HSBC Bank Bangladesh
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Education Savings Plan
This is an ideal plan for individuals who want to save now to be able to support the future educational expenses of their children or for themselves.
Product Features
- Initial deposit of only BDT 10,000
- Monthly instalment of BDT 5,000
- Interest rate will remain fixed and interest earned will be credited to the plan on a yearly basis.
- The plan account is a non-transactional account
- Joint application is possible
- Nominee: In case of customers' death, Nominee or Next-of-kin will be given the money
Benefits
- No sign-up fee
- No penalty for missed instalment
- Customer is free to purchase as many units as desired
- Flexible tenures of 1, 2 or 3 years
Eligibility
- Any Bangladeshi between 18-60 years of age is eligible to open Education Savings Plan
Terms and Conditions
- Bank reserves the right to close the plan if the customer misses 3 consecutive instalments.
- If the plan is closed within one year, customers will get the deposited amount only and no interest will be paid for the plan.
- If the plan is closed after one year, customers will get the deposited amount along with the interest at the prevailing savings rate during the time of closure.
*All of the above conditions are subject to change
*Other Conditions Apply
*Last updated in April, 2011
Need to know more
For any query/complaint/ feedback/compliments, please call our Contact Centre at 16240 (accessible from within Bangladesh); +88 096127 16240 (accessible from overseas *) 24/7, including government holidays.
*Only international calls through authorized channel are allowed.
(No new accounts under the following products are currently being offered.)
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