MDB Probashi Savings


Account Information

  • MDB Probashi Savings is a savings account in local currency for the NRBs who are residing abroad and want to save their hard-earned money to utilize in Bangladesh. This is an interest bearing Taka account in which interest is paid twice a year.

Features and Benefits

    No physical presence is required; Can be opened from abroad by sending duly completed AOF and all the required documents to Midland Bank NRB Banking Services.

    This is an interest bearing taka account in which interest is paid twice in year.

    No initial deposit required for opening this account.

    Interest calculated on the daily average balance.

    Higher interest rate on maintaining a certain balance in the account.

    Free VISA Debit card facility.

    24X 7 access to largest network of VISA ATM and POS.

    No ledger fees/relationship charge (For the First year).

    Free Internet banking facility with fund transfer facility.

    E-commerce transactions can be also done through Internet Banking.

    Free SMS or Alert Banking (For the First year).

    Free Cheque Book Facility (For First Order).

    Account can be operated through mandate agreement.

    Dedicated email ID for any account related queries.

    Many lucrative investment and savings products can be linked with this account.

Apply Eligibility

  • Any NRB who is between 18 to 65 years old can open this account.
  • The NRB must have valid residence visa/work permit.

Required Documents

  • Duly filled in Bank prescribed account opening form (download).
  • Photo: 2 passport sized photographs of the Applicant.
  • Nominee photo: 1 pp size attested by account holder on the reverse side.
  • Identification Document: Photocopy of Valid passport (For old Bangladeshi passport first 6 pages; for MRP passport first 2 page with identification information).
    In case of foreign passport attested photocopy of “no visa required for travel to Bangladesh” page required.
  • Valid Proof of Residence: Valid Visa, Resident permit/work Permit/ Green Card. If it is any other language other than English, no translation is required.
  • Address proof: (If any)- Resident /Work ID, Utility Bill, Pay Slip, Rent Receipts, Job Contract Letter, Health Card, Green Card, Social Security Card, Driving License, ID issued by government.

    Note: If the Applicant is requesting to open the account from overseas, then all the photocopied documents should be attested. The attestation can be done from the below organizations by taking sign and seal of the respective official of that organization on the photocopied documents (‘Original Seen’ marking):

  • Bangladesh Embassy.
  • any MDB affiliated Exchange House.
  • any reputed Bank’s branch.
  • Notary public in his/her currently residing country. *

    * Notarization should be in a verifiable format.
    Required Documents for Joint Account Holder:
  • If the Joint Account Holder’s Residence Status is Non Resident then, the similar list of documentations as the Primary Account Holder will be applicable for the Joint Account holder..
  • If the joint Account Holder is a Resident then, the following Documents should be collected:
    a. National ID / Passport Copy
    b. Photo: 2 passport size
    c. Address proof documents i.e. any utility bill, lease agreement
    Requirements For Mandate Holder:
  • One copy passport size photo of the Mandate (Attested by the Applicant)
  • Valid photo ID of the Mandate
  • Address proof document of the Mandate i.e. any utility bill, lease agreement

Steps: MDB Probashi Account

  • Step 2: Please fill up the required information and put your sign on it.
  • Step 3: Attach the required documents.
  • Step 4: Please Send the Account opening Form and required documents through international postal mail to the following address:


  • Midland Bank NRB Banking Services
    Head Office Annex
    Zahed Plaza (Level 10)
    30 Gulshan Avenue
    Gulshan 2, Dhaka 1212
    Bangladesh



    For any clarifications, please e-mail at nrb.banking@midlandbankbd.net

Frequently Asked Questions (FAQs):

    Q 1: What is MDB Probashi Savings?
    Answer: It is an exclusive savings Account for the NRB’s that adds interest on daily basis and pays out on half yearly basis.

     

    Q 2: What is the eligibility of a Client to open this account?
    Answer:

    •  Must be a citizen of Bangladesh and age 18 years and above
    • The NRB must have valid residence visa/work permit


    Q 4: What are the Slabs of Interest Rates?

    Answer: The slabs of the interest rates to be applied.

    (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)

    Q 5: What are the unique features of this product?
    Answer:

    • No physical presence is required; Can be opened from abroad by sending duly completed AOF and all the required documents to Midland Bank NRB Banking Services
    • This is an interest bearing taka account in which interest is paid twice in year
    • No initial deposit required for opening this account
    • Interest calculated on the daily average balance basis
    • Higher interest rate on maintaining a certain balance in the account
    • Free VISA Debit card facility
    • 24X 7 access to largest network of VISA ATM and POS
    • No ledger fees/relationship charge (For the First year)
    • Free Internet banking facility with fund transfer facility
    • E commerce transactions can be also done through Internet Banking
    • Free SMS or Alert Banking
    • Free Cheque Book Facility (For First Order)
    • Account can be operated through mandate agreement
    • Dedicated email ID for any account related queries
    • Many lucrative investment and savings products can be linked with this account


    Q 6: What about Interest Accrual & Payment Procedure?

    Answer: Interest will be calculated on daily average balance of the account and paid on half yearly basis. *

    *If the End of Day balance of the accounts falls below BDT 5,000.00, then for that particular day there will be no accrual of interest.

     

    Q 7: What is the maximum allowed debit transaction per month to qualify for interest?
    Answer: Maximum number of debit transactions allowed to qualify interest for the month is 10 (Ten).

     

    Q 8: What about Tax Deduction on Interest?
    Answer: Interest is tax deductible as per NBR rules.

     

    Q 9: What about Excise Duty & VAT?
    Answer: Excise Duty and VAT will be deducted as per NBR rules.

     

    Q 10: As it is a NRB Account, then should not be the TAX, Excise Duty & VAT waived?
    Answer: No, only income TAX is waived for NRBs. The tax on interest and excise duty and VAT for the deposited would be applicable as per NBR rules.

     

    Q 11: Is there any option for repatriating the amount deposited in the MDB Probashi Savings to the overseas account directly?
    Answer: Yes. Direct repatriation is possible with required regulatory approval.

     

    Q 12: What are the points of Account opening?
    Answer:

    • All the Branches
    • NRB Banking Services
    • Customers can directly download the form from bank’s website and send the dully filled up form and required documents through international postal mail from the residing country.

     

    Q 13: What would be the sending address if the customer is sending the account opening request  from abroad?
    Answer: 

    Midland Bank NRB Banking Services
    Head Office Annex
    Zahed Plaza (Level 10)
    30 Gulshan Avenue
    Gulshan 2, Dhaka 1212
    Bangladesh

     

    Q 14: What are the documents required for opening the account?
    Answer: Bank prescribed account opening form duly filled up

    • Photo: 2 passport size
    • Nominee photo: 1 pp size attested by account holder attestation on the reverse side.
    • Identification: Photocopy of Valid passport (6 pages) with due attestation. In case of foreign passport attested photocopy of “no visa required for travel to Bangladesh” page required.
    • Valid VISA: Entry VISA with due attestation. If it is any other language other than English, no translation is required.
    • Address proof: (If any)- Resident /Work ID, Utility Bill, Pay Slip, Rent Receipts, Job Contract Letter, Health Card, Green Card, Social Security Card, Driving License, ID issued by government

    • Note: If the Applicant is requesting to open the account from overseas, then all the photocopied documents should be attested. The attestation can be done from the below organization by taking sign with seal of the respective official of that organization on the above photocopied document (‘Original Seen’ marking):

    • Bangladesh Embassy
    • Any MDB affiliated Exchange House
    • Any reputed Bank’s branch
    • Notary public in his/her currently residing country *

    * Notarization should be in a verifiable format

     

    Q 15:  Does the MDB Probashi Savings have joint application option?
    Answer: Yes, Can be done.

     

    Q 16: Who can be Joint Account Holder?
    Answer: Any NRB/ Resident can be Joint Account Holder.

     

    Q 17: What are the documents required for the Joint Account Holder?
    Answer:

    • If the Joint Account Holder is a NRB then, all the similar required documentations for MDB Probashi Savings would need to be collected from him/her.
    • If the joint Account Holder is a Resident then, the following Documents should be collected:
    • National ID/ Passport Copy
    • Photo: 2 passport size
    • Address proof documents i.e. any utility bill, lease agreement

     

    Q 18: Who will fill up Transaction Profile Portion?
    Answer: Client will fill up Transaction Profile (TP) at the time of opening of accounts mentioned in the account opening form.

     

    Q 19: What about Nomination & deceased Account?
    Answer:

    • One person can be nominated by account holder for each account.
    • Nomination will be cancelled, if nominee dies in the life time of account holder. Account holder, in such cases will advise in writing a new nominee.
    • Account holder, with written instruction, may change the nominee any time.
    • In the event of account holder’s death, his/her nominee will not be allowed to continue the account, and amount deposited prior to the death of account holder, shall be paid to the nominee, after proper identification.

     

    Q 20: Can Mandate be assigned for MDB Probashi Savings?
    Answer: Yes, one mandate holder can be assigned by the account holder/s for each account.

     

    Q 21: Who can be assigned as a Mandate Holder?
    Answer: Any Resident can be authorized as a Mandate Holder by the Account Holder/s to do the legitimate transactions into his/her account in absence of him/her in the country.

     

    Q 22: If the MDB Probashi Savings is a Joint Account, then can any of the accountholder assign a Mandate Holder to the account?
    Answer: All Joint-accountholders are required to sign regardless of mode of operation.

     

    Q 23:  What will be the authority for the Mandate holder to operate the account?
    Answer: The Mandate holder can only do the legitimate debit and credit transactions. Any other account related operational issues i.e. any static data change request, Term deposit issuance/closure request, account closure, Internet banking /sms banking subscription request, Dormant/Inactive account activation request,  Debit card issuance/renewal, cheque book renewal, statement request cannot be done through Mandate Holder or on the request of Mandate Holder.


    Q 24: What are the documents required for assigning a Mandate Holder to MDB Probashi Savings?
    Answer: The following Documents should be collected:

    • Duly Filled up and Signed Mandate Authorization Letter
    • Duly Filled up and Signed Mandate Details Form
    • 1 Copy of Passport sized photograph of the Mandate attested by the Applicant/s
    • Copy of National ID Card/ Passport of the Mandate
    • Copy of Utility Bill  as the address proof of the Mandate


    Q 25: Can the Mandate Holder be authorized for using cheque book & Debit Card?

     Answer: The Mandate holder can be authorized to use Account Holder’s cheque book only.

MDB Probashi Savings Download Forms

Download

 

For details, please feel free to contact any of our MDB NRB Service, Head Office

Media Room

Midland Bank NRB Banking Services
Head Office Annex
Zahed Plaza (Level 10)
30 Gulshan Avenue
Gulshan 2, Dhaka 1212
Bangladesh

PBX: (+88) 096 66 410 999 Ext.999-216

nrb.banking@midlandbankbd.net