Padma Bank launches 125-day fixed deposit products

FE DESK | Published: April 03, 2023 23:17:49

Padma Bank Limited has recently launched two fixed-deposit products, offering customers an opportunity to deposit their money for a shorter period of time.
The schemes are Padma Elegant and Padma Professional. Besides, there is Padma Mousum Deposit for those who are contributing to the agriculture sector. Customers can manage their savings accounts in Tk 50 monthly installments, said a press release.
Padma Elegant scheme was launched recently to encourage women to save their money. This special deposit scheme has been designed considering various benefits for women. The fixed deposit scheme is for 125 days with an interest rate of 8 to 9.50 per cent. Any Bangladeshi woman above 18 years of age can manage this scheme.
Padma Professional scheme is specially designed for doctors, engineers, architects, and chartered professionals, etc. The 125-day fixed deposit account can be opened at a maximum rate of interest of 9.5 per cent for any amount starting from Tk 50,000.
The Padma Mousum Scheme has been launched for those who work in the agriculture, poultry, and fisheries sectors.
This account can be opened with as little as Tk 50 and as much as Tk 10,000. Interest rates will be available up to a maximum 10 per cent.
Now, Padma Bank Limited has a total of 18 schemes with various tenures and attractive rates, the release added.