The Financial Express

Banks asked to charge accounts maintenance fee once a year

| Updated: April 13, 2021 19:45:18

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The Bangladesh Bank on Sunday asked banks to charge account maintenance fee one time in a year in order to rationalise the same amid the coronavirus pandemic.

It said one-time maintenance fee instead of two times for savings accounts would encourage small savers to park more money with the banking system.

The Banking Regulation and Policy Department of the central bank issued a circular to this effect.

It said commercial banks would realise maintenance fee once in year instead of twice a year from average Tk 1.0-million balance (savings).

It said such realisation would encourage account holders to deposit more money with the banking system.

This order will remain effective only for the 2021 calendar year.

Another circular issued by the Department of Offsite Supervision has extended banking transaction hours up to 1:00 pm.

The new time schedule will remain valid only for today (Monday) and tomorrow (Tuesday).

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