IDLC Finance introduces country’s first ‘Digital Savings Scheme’ through which the population previously living outside financial inclusion can enjoy the term-deposit services of IDLC Finance through bKash accounts.
M. Jamal Uddin, MD & CEO of IDLC Finance, Kamal Quadir, CEO of bKash, and other senior officials of both the organizations were present at the launching event held at the corporate head office of IDLC Finance, at Gulshan, a press release said.
IDLC Finance, bKash customers can now open monthly savings anytime from anywhere, following a few simple steps. Users can deposit savings installments from bKash app on the scheduled date of each month and after the savings scheme is matured, customers will receive the money including profits in bKash account.
bKash customers will now be able to avail the savings schemes of IDLC Finance in monthly installments of BDT 500, BDT 1,000, BDT 2,000 and BDT 3,000 starting from a minimum period of two years to a maximum of four years.
Customers will be able to see all the important information ‘Live’ from the bKash app, including total savings amount, savings period, and profits. When the savings period expires or matures, the entire money including profits will be transferred to the customer’s bKash account and if the customer wants to withdraw money at any early stage of the savings period, they can do so through the bKash app as well.
M. Jamal Uddin, MD and CEO of IDLC Finance said, “This collaboration between IDLC Finance and bKash to connect customers with traditional financial services through MFS will serve as an example for the industry. The access to services like monthly savings scheme will also contribute to the improvement of people’s living standards and economic development.”
Kamal Quadir, CEO of bKash said, “bKash, which has become a part of the lives of millions across the country, has once again utilized technological innovations to make it easier for customers to get access to savings service of financial institutions. To further encourage the savings trend, IDLC’s savings service has been brought to the doorsteps of marginalized people to enhance their efficiency and independence in financial management.”
