Individuals who want to save a sizable amount in short term now can easily open Tk 20,000 monthly DPS from the bKash app with Dhaka Bank and IDLC Finance. This six-month DPS is quite suitable for those who intend to meet a specific goal in the near future.
Leveraging mutual cooperation and capabilities in the financial sector, bKash offers DPS services of different banks and financial institutions to facilitate further financial inclusion of larger population with necessary banking services. As part of this move, bKash has recently launched ‘monthly’ DPS following the popularity of ‘weekly’ DPS of six months.
To assist customers developing a consistent savings habit, bKash has introduced hassle-free digital DPS of different banks and financial institutions in the country for the first time in 2021. Currently, without the requirement of bank account or paperwork, customers can open DPS with monthly instalment of Tk 2,000 to Tk 20,000 for a tenure of six-month. It is worth noting that customers have so far opened more than 4.3 million DPSs at different banks and financial institutions, which is a testament of trust on the DPS service in the bKash app.
Process of opening monthly DPS of Tk 20,000 thru bKash app:
To open new DPS, customers need to tap on the ‘Savings’ icon from the home screen of the bKash app and tap on ‘open new savings.’ Then select ‘General Savings’ from savings type, choose the savings tenure of six months, select deposit type (monthly), and pick the amount of deposit -- Tk 2,000, Tk 5,000, Tk 10,000, or Tk 20,000. In the next step, from the list of banks and financial institutions, IDLC Finance or Dhaka Bank needs to be selected.
Then, details of the nominee should be given to proceed to the next step, where the customer will be asked to carefully check the deposit details and agree to the terms and conditions. Finally, by tapping and holding the bottom part of the screen following input of bKash PIN number, the DPS opening procedure will be completed. Once the application is submitted, confirmation messages will be sent from bKash and bank or financial institution. will send. Besides, one can open multiple savings schemes from the same bKash app.
Every month, on a specific date, instalment amount will be automatically credited to the DPS. Upon maturity of the savings, the total DPS amount with profit will be deposited back into the bKash account. Customers can cash out the money without any cash out charge. Meanwhile, if a customer wants to close their savings before the maturity date, it can be done from the app.