BRAC Bank customers can now open Fixed Deposits (FD) and Deposit Pension Scheme (DPS) on the bank’s ASTHA mobile app anytime, anywhere, without visiting a branch.
The process is fully digital and paperless, where the FD and DPS will be opened instantly with just a few clicks.
This new feature in the ASTHA app is expected to make the customers’ lives easier. They will not need to visit any branch, do not need to fill up any form, and provide documents and photographs.
The customers can open DPS in any multiples of BDT 500 for one year up to 10 years through the app. The fixed Deposit amount will start from BDT 10,000 up to BDT 10 lakh with tenor options of 3/6/12/24/36 months. They can see the statement and maturity date at any time on the app.
This new feature is available in Android and IOS mobile versions and on the web platform. Customers who have enabled the auto-update feature will get the functionality now, and others need to download the latest version ASTHA2.9 from their Google Play/App Store.
Commenting on the service, Md. Mahiul Islam, Head of Retail Banking, BRAC Bank, said: “We in BRAC Bank are always innovating and trying to new ways create for convenience for our customers. This FD and DPS capability of ASTHA app will bring ease, comfort, and control over how customers do banking nowadays. It will also play a role in instilling the habit of savings for a secured future as the customers can open savings instruments from the comfort of their home.”
It is a secured process with verification through One Time Password (OTP). After the successful opening of FD/DPS, the customer will get an email notification. Joint Account holders can also open FD and DPS provided that the applicant’s name will be CIF holder who has logged into ASTHA. The customers can easily encash the FD/DPS as the principal, and accrued interest will be credited to the linked account on maturity.
