How to open a bank account? ~ Ofuran

How to open a bank account?

How to open a bank account? Part - 1

At first you need to decide, in which bank you will open the account. You can easily open accounts in any bank of government or private banks. Under the Bangladesh Bank, there are 47 such banks in the public and private sector. These banks are called Scheduled Bank. It is good to say, not only the Scheduled banks but the institutions named Grameen Bank, Employment Bank, Co-Operative Bank etc. are not! That means you can not open accounts in these banks.

It is a matter of personal decision to open an account with a bank. In this case, you need to take into consideration the distance between your home or work place, online facility, card facility, branch expansion in different places, weekly closure etc., from bank branches. Besides, bank charges, interest and service quality aspects should also be taken into account. Again, if you want free banking, you can open an account with Islamic Bank. In this case, their rules should be read well, should understand and understand. Islamic banks also have some interest related business interests, they will have to decide.

Regarding bank form

Generally two types of bank forms are available in Bangladesh:

1. Personal account forms

2. Institutional / Non-Primary Account Forms

1. Personal Account Form: By name name, it is understood that this account is mainly used for personal purposes. The title of the account, that is, the title of the account in the name of a person, is considered as a personal account. This type of form will open one or more accounts in the name of one person.

2. Institutional Account Form: This type of form is the title of the bank account or the title of the account in the name of any organization. These accounts are treated as non-personal accounts.

Details of the bank account

There are various types of accounts in the bank. There may be some variation in this rule by the bank, but the general structure is the same in all the banks.

Bank accounts can be divided into several parts, and discussed:

1. Current accounts or current accounts: Current accounts are the most suitable for business organizations. Currency accounts can be traded as often as you wish from the Current Account. Any time money can be withdrawn and deposited. No interest is paid in this regard. Rather, at the end of the year, some amount of money was cut as a service charge.

2. Savings account or Savings account: Anyone can open such account. Money can be taken once or twice a week and can be kept. Interest is paid annually from 4% to 6% on deposited money. For those who do not always need money transactions, this account is useful.

Here's one thing to know, if you are a profitable business organization, then you will have to open a current account for transaction convenience. Non-profit organizations such as school-colleges can open a current or savings account.

Current accounts are essentially for traders. This is not for ordinary employees or students. However, if anyone wants to get interest-free banking facility, then personal loans can also be opened as a current account, although banks are generally not interested in it.

3. DPS (Deposit Pension Scheme): It is said that knowledge of the future is a wise work. For the future, each of us should build regular storage habits. Besides, there is a lot of time to save money according to any special plan. So, the amount of money left to spend every month should be stored. If you keep the money in the house then there is no doubt about its security. That's why the money can be saved in the bank by opening the account. DPS account is basically used for this purpose. Regular deposits can be deposited in any bank by opening a DPS account.

Any person or organization may also open such accounts. In this case, a certain amount of money has to be kept every month. The minimum and maximum monthly installments vary between the banks. Generally monthly installments can be made from 500 rupees to 10,000 rupees. Such accounts are 5 years, 10 years or 20 years term. Generally, annual interest rate of 10% for 5-year DPSs, and 15% interest is paid annually for 10 and 20-year DPSs. However, the amount of interest is different from the bank.

4. FDR (Fixed Deposit Receipt) Account: For defining the definition, the Fixed Deposit Receipt (FDR) is to deposit a fixed amount of money for a specific period, which you can use as a monthly, fortnightly, half yearly or annually. To open this account, a large amount of money has to be deposited. Generally, the FDR account can not be reduced by 25 thousand rupees. In this case, the amount of interest is approximately 9% to 12% annually.

However, your FDR will be able to break if needed, although it may cause some damage. If you want to take the loan instead of this FDR account.