Desk Report,
Best savings for women; How much profit is there on family savings certificates, how to buy them
The most popular savings certificate in the country is the Family Savings Certificate. Women can buy this certificate. The profit rate of this certificate is relatively high and the profit can be withdrawn every month.
Best savings for women; How much profit is there on family savings certificates, how to buy them
If you invest in this certificate called Family Savings Certificate, you will get a profit of 11.93 percent at the end of the term, that is, after five years.
Among the four savings certificates that are currently available, this certificate has the highest profit rate after the Pensioner Savings Certificate. This certificate was launched by the National Savings Department in 2009. For a decade and a half, this certificate has been known as one of the most popular savings certificates in the country. What is the value?
10 thousand taka, 20 thousand taka, 50 thousand taka, 1 lakh taka, 2 lakh taka and 1 million taka.
Where to get it? It can be purchased from the National Savings Bureau, branches of Bangladesh Bank, commercial banks and post offices as well as cashed.
Term
Five years
Profit rate
From July 1, the government has reduced the profit rate of all types of savings certificates. For example, for investments of less than 7.5 lakh taka in a family savings certificate, the profit rate is 11.93 percent at the end of the fifth year. And for investments of more than 7.5 lakh taka, the profit rate is 11.80 percent.
If you cash out before maturity, you will receive a lower profit rate, and if the excess amount has been paid, it will be deducted from the principal and adjusted to pay the remaining principal.
Tax at source
For total investments of up to 5 lakh taka in a five-year family savings certificate, tax at source is deducted at 5 percent on the profit, and for investments exceeding this, tax at source is deducted at 10 percent on the profit.
Who can buy it
Three categories of investors can buy family savings certificates. 1. Any Bangladeshi woman aged 18 and above; 2. Any Bangladeshi physically disabled (male and female); 3. Any Bangladeshi citizen (male and female) aged 65 and above.
Purchase limit
Maximum 45 (forty-five) lakh taka in a single name.
Other benefits
There are some benefits in buying a family savings certificate. For example, profit is available on a monthly basis; nominee can be appointed or changed and cancelled; after the death of the buyer of the savings certificate, the nominee can immediately cash out the savings certificate and withdraw the money or can withdraw profit every month as usual until the maturity.
