To open any deposit account in BDB for the first time, our valued customer should be introduced by an existing client. And need to fill up the Customer Information Form (CIF) which requires a passport size photo and legal stamp each. Basic documents required to open any account.
Fixed Deposit
A Fixed Deposit (also interchangeably referred to as a Term Deposit) are funds deposited by customers for a fixed period, decided in advance, with a contracted interest rate guaranteed not to change for duration of the deposit, with proceeds payable only at maturity.
Individual Fixed Deposit
A fixed amount is deposit for a fixed period of time and generally withdraw able both the principal and interest on maturity. The interest provided depends on the duration for which the client is opening the FD account for.
Minimum | 10,000 |
Maximum | No Limit |
Minimum | 3 months |
---|---|
Maximum | No Limit |
PRODUCT DESCRIPTION | TIME PERIOD | EXISTING | REVISED |
Individual Fixed Deposits | > 3 Months <= 1 Year | 5.90% | 5.40% |
> 1 Year <= 2 Years | 7.00% | 7.00% | |
> 2 Years <= 3 Years | 7.50% | 7.30% | |
> 3 Years <= 4 Years | 8.00% | 8.00% | |
> 4 Years <= 5 Years | 8.25% | ||
> 5 Years <= 6 Years | 8.50% | 8.30% | |
> 6 Years <= 7 Years | 8.60% | ||
> 7 Years <= 8 Years | 9.10% | 8.75% | |
> 8 Years <= 9 Years | 9.25% | 8.80% | |
> 9 Years <= 10 Years | 9.35% | 8.90% | |
> 10 Years | 9.50% | 9.10% |
Similarly, with effect from 1 July 2019, the interest rate for corporate fixed deposits are revised as follows;
PRODUCT DESCRIPTION | TIME PERIOD | EXISTING | REVISED | YEARLY | HALF-YEARLY | QUARTERLY | MONTHLY |
Corporate Fixed Deposits | > 3 Months <= 4 Months | 2.00% | 2.00% | N/A | N/A | N/A | N/A |
> 4 Months <= 6 Months | |||||||
> 6 Months <= 9 Months | 3.00% | 3.00% | N/A | N/A | N/A | N/A | |
> 9 Months <= 1 Year | 3.50% | 3.50% | N/A | N/A | N/A | N/A | |
> 1 Year <= 2 Years | 5.50% | 5.25% | 5.11% | 5.04% | 5.01% | 4.98% | |
> 2 Year <= 3 Years | 6.50% | 6.25% | 5.89% | 5.79% | 5.74% | 5.71% | |
> 3 Year <= 4 Years | 7.50% | 7.35% | 6.69% | 6.56% | 6.49% | 6.45% | |
> 4 Year <= 5 Years | 7.75% | 7.60% | 6.71% | 6.57% | 6.51% | 6.46% | |
> 5 Year <= 6 Years | 8.00% | 7.85% | 6.73% | 6.59% | 6.52% | 6.47% | |
> 6 Year <= 7 Years | 8.25% | 8.15% | 6.75% | 6.66% | 6.59% | 6.54% | |
> 7 Year <= 8 Years | 8.50% | 8.35% | 6.78% | 6.67% | 6.60% | 6.55% | |
> 8 Year <= 9 Years | 8.75% | 8.60% | 6.82% | 6.68% | 6.62% | 6.57% | |
> 9 Year <= 10 Years | 9.00% | 8.80% | 6.83% | 6.69% | 6.64% | 6.59% | |
> 10 Years | 9.25% | 9.10% | 6.94% | 6.79% | 6.72% | 6.67% |
Note: Interest Rates are subjected to change from time to time.
Recurring Deposits (RD)
Recurring Deposit (RD) is a facility for those people who have regular incomes, and who wish to regularly deposit a small, fixed amount at pre-determined periods, and for a fixed period. The interest depends on the period for which the client agrees to deposit the said RD amount.
Installment Amount
Minimum Amount: Nu.100
Maximum Amount: No Limit
TIME PERIOD | YEARLY |
> 6 Months <= 9 Months | 5.75% |
> 9 Months <= 1 Year | 6.00% |
> 1 Year <= 2 Years | 7.00% |
> 2 Years <= 3 Years | 7.50% |
> 3 Years <= 4 Years | 8.00% |
> 4 Years <= 5 Years | 8.25% |
> 5 Years <= 6 Years | 8.50% |
> 6 Years <= 7 Years | 8.60% |
> 7 Years <= 8 Years | 8.80% |
> 8 Years <= 9 Years | 8.90% |
> 9 Years <= 10 Years | 9.00% |
> 10 Years | 9.10% |
Product Description | Yearly |
Savings | 5.40% |
Drinchen Ama Savings Account | 5.60% |
Group Indvidual Compulsory Savings Account | 6.10% |
Pensioners SavingsAccount | 5.60% |
Steady Income Plan (SIP) Steady Income Plan for individuals, with interest paid at regular frequencies as desired by the customer on monthly/quarterly/half yearly and yearly basis and only the principal amount is payable at maturity. Amount Limit Minimum Amount: 100,000 Maximum Amount: No Limit Deposit Period Min: > 1 Year Max: No Limit
TIME PERIOD | YEARLY* | HALF-YEARLY* | QUATERLY* | MONTHLY* |
>1 Year<=2 Years | 6.79% | 6.67% | 6.61% | 6.57% |
>2 Years<=3 Years | 7.04% | 6.91% | 6.84% | 6.80% |
>3 Years<=4 Years | 7.26% | 7.11% | 7.04% | 6.99% |
>4 Years<=5 Years | 7.30% | 7.14% | 7.07% | 7.01% |
>5 Years<=6 Years | 7.34% | 7.18% | 7.10% | 7.04% |
>6 Years <=7 Years | 7.38% | 7.22% | 7.13% | 7.08% |
>7 Years<=8Years | 7.40% | 7.23% | 7.15% | 7.09% |
>8 Years<=9Years | 7.43% | 7.26% | 7.18% | 7.12% |
>9 Years<=10Years | 7.44% | 7.27% | 7.19% | 7.13% |
10 Years and above | 7.46% | 7.30% | 7.22% | 7.17% |
YE Banking is a new concept floated by RMA in 2018, with the aim to bring young students in to the banking system. Only students below the age of 18 are eligible to hold YE banking accounts. This concept has been designed to: