MDB Gift Cheque

DESCRIPTION

MDB Gift Cheque as a unique instrument replacing traditional gift items or cash, and the recipient will have his/her liberty for encashment, and hence the hassle as well as saves time, for the purchaser.

Title Details
En-cashibility :
  • En-cashable at any branch using either of the two modes: (a) cash or (b) Fund Transfer
Availability :
  • All MDB branches
Interest Applicable
:
  • Interest is applicable only if the instrument is en-cashed after three months from the date of issuance in the following manner:
    1. No Interest if en-cashed within three months from the date of purchase.
    2. Attractive Interest if en-cashed after three months and within six months from the date of purchase
    3. Attractive Interest if en-cashed after six months and within one year from the date of purchase
    4. Attractive Interest if en-cashed after one year or more, subject to a maximum period of 02 (Two) years

    (Interest rate will be reset periodically upon review by Midland Bank Ltd.' s Asset Liability Committee and will be subject to change as per deposit rate sheet)
Encashment
:
  • Encashrnent of gift cheque will not be allowed over clearing (BATCH / BEFTN).
Gift Cheque denomination :
  • To be issued in the denomination of Tk.500/-, Tk. 1000/-, Tk. 5000/- (Printed value).
Required document
:
  • No documents require for purchase of gift cheque up-to Tk. 10,000/- and any higher value would require KYC.
Service Charge :
  • No service charge is applicable.
Tax, Excise Duty & VAT
 
  • Will be applicable as per NBR rules

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