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BB issued circular to reduce account maintenance fees

BB issued circular to reduce account maintenance fees

Bangladesh Bank (BB) has issued a master circular for account maintenance fees of the scheduled banks for increasing deposits in the banking sector and bringing the small depositors in banks.

The central bank, in a circular, on Thursday (Oct 31) instructed the scheduled banks not to cut any maintenance fee for average deposits of up to Tk. 10,000 in savings accounts which was earlier Tk. 5,000.

BB also instructed banks to cut Tk. 300 in each six months for current accounts which was earlier Tk. 500.

BB also asked banks to cut maximum Tk. 100 for average deposits from Tk. 10,000 to Tk. 25,000 in savings accounts, while Tk. 200 for Tk. 25,000 to Tk. 2 lakh, Tk. 250 for Tk. 2 lakh to Tk. 10 lakh and Tk. 300 for Tk. 10 lakh and above.