Banks must display service charge list

Staff Correspondent | Published: 00:00, Jan 29,2020

 
 

The Bangladesh Bank on Tuesday instructed all banks to ensure display of the list of account maintenance fees set by the central bank at their head offices, branches, sub-branches and agent banking outlets.

The list must be displayed on the banks’ notice boards and on their web sites, a BB circular issued on Tuesday said.

The central bank in October last year revised the account maintenance fees, replacing the previous ones set in 2009, with a view to increasing deposit in banks and bringing small depositors within the reach of banking services.

According to the circular, banks will not charge any maintenance fee on average balance up to Tk 10,000 in savings accounts on half-yearly basis.

According to the schedule, banks are allowed to charge the highest Tk 100 half yearly for average balance above Tk 10,000 but up to Tk 25,000.

The charge will be Tk 200 for balance starting from Tk 25,000 up to Tk 2 lakh while the fee will be Tk 250 for average balance up to Tk 10 lakh starting from Tk 2 lakh.

The banks will be able to charge the highest fee of Tk 300 for balance above Tk 10 lakh.

All the charges will be collected on half-yearly basis.

The maintenance fee for current account has been reduced to Tk 300 from the previous Tk 500, according to the circular.

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