5m DPS accounts open in banks and financial institutions thru bKash app

Customers have opened over 5 million DPS (deposit pension scheme) accounts in four commercial banks and a financial institution through the bKash app in just four years since the launch of the service.
From the bKash app, customers can start saving in banks and financial institutions with just Tk 250 anytime from anywhere. This milestone was achieved in a short period of time, as customers were able to conveniently open both weekly and monthly DPSs with multiple institutions from just a single platform.
By working together, financial service providers can leverage their respective capabilities to reach a larger customer base to ensure sustainable financial inclusion. Keeping that in mind, bKash introduced DPS services of different banks and financial institutions on its platform.
This timely initiative has also created a bridge between formal banking and marginal customers.
Starting in 2021 with IDLC Finance's monthly DPS service, similar products of Dhaka Bank, Mutual Trust Bank, City Bank, and BRAC Bank were gradually added to bKash app. Alongside monthly DPS, weekly DPS services were introduced in the beginning of 2024. Customers interested in Shariah-compliant savings can also open Islamic DPS of two banks from the app.
It is to be noted that about 30 per cent of all DPSs opened through bKash app were by women. 80 per cent of DPS customers reside outside major cities like Dhaka and Chattogram. Customers from all 64 districts have opened DPS through bKash, proving that technological innovation can deliver essential financial services to every corner of the country-even to unbanked and underbanked population.