Fixed Deposit (FD) Account

Mostly known as FDR, this is a deposit product where depositor deposit fixed amount of money for a certain period of time. After maturity period, depositors receive both principal & interest amount. FD account’s interest rate is relatively higher than the other deposit products & period varies from
1 months to 5 years. Any eligible Bangladeshi age minimum 18 years or other legal entity can open FD account with any scheduled bank. This account can also be opened for below 18 years people but then it is operated by legal guardian.

• Amount should be fixed for a certain period of time usually ranging from 1 month to 5 years.
• After certain period called maturity period, FD account holder can withdraw deposited money with interest.
• Interest rate is fixed at the time of FD account opening.
• If FD account holder wants to withdraw money before maturity period, fixed interest may not be eligible but can get regular savings interest.
• Interest is higher than savings or other accounts.

Varieties of FD Account products