Midland Bank FDR
Midland Bank Fixed Deposit or FDR refers to any amount of money kept fixed or permanent in the bank for a specified period and return of capital with profit at the end of the period. Midland Bank is currently paying the highest profit on FDR.
 |
| Midland Bank Fixed Deposit Rate |
How to open an Midland Bank FDR account
Midland Bank's highest yielding FDR can be opened at any branch, sub-branch and agent banking centre. Customers can open Midland Bank FDR account in single or joint name. Customers can open more than one FDR account if they want.
Advantage of Midland Bank FDR Account:
Midland Bank offers attractive interest rates on FDRs and provides up to 90% SOD loan facility for urgent needs of customers.
Conditions for withdrawal before maturity
Midland Bank Fixed Deposits or FDRs also have the facility of cashing out before maturity. Note that if you close the FDR before maturity, your fixed rate of return will change.
Rate of profit received on deposits
Customer can open any amount in Midland Bank's FDR account by depositing any amount i.e. deposit amount is any amount of taka.
- Midland Bank offers 9% interest on two year FDR but MDB App Digital FDR offers an interest of 9.25%
- Midland Bank offers 9.25% profit on one year FDR Midland Bank MDB App Digital FDR offers 9.50% profit
- Midland Bank offers 9% interest on any amount on six month FDR but MDB App offers an interest of 9.25% on digital FDR.
- Midland Bank offers 8.75% profit on any amount of taka.3 months FDR MDB App offers 9% profit on Digital FDR
- Midland Bank offers 0.25% more interest on MDB App Digital FDR.
Please note that the customer has to open the digital FDR account from Midland Bank's MDB app.
Read about Pubali Bank FDR
Amount of money received according to the rate of profit
- Midland Bank gives a profit of 2187 taka for a period of three months on 1 lakh taka.
- Midland Bank gives a profit of 4500 taka for six months on 1 lakh taka.
- Midland Bank gives a profit of 9250 taka in one year period on 1 lakh taka.
- At 10 lakh taka, Midland Bank gives a three-month profit before tax deduction of 21870 taka.
- Midland Bank gives a profit 45000 taka for a period of six months on 10 lakhs taka.
- Midland Bank gives a profit of 92500 taka for one year on 10 lakhs taka.
Remember, if you have a teen certificate, the tax deduction will be 10% but if you don't have a teen certificate, the tax deduction will be 15%.
Documents required to open Midland Bank FDR account
- The customer has to provide two copies of photographs which are to be attested by the introducer.
- Nominee has to provide one photocopy which has to be attested by the account holder.
- Photocopy of NID card of account holder and nominee should be provided.
- If there is no NID card, photocopy of passport or birth registration must be provided. Photo attestation must be provided in case of birth registration.