| Millionaire Scheme |
1. |
The scheme(s) above are for individual depositors only. |
2. |
The Lump sum amount on maturity will be paid after one month from the date of deposit of the final installment. The specified amount on maturity is subject to regular installment payment at the specified time. |
| 3. |
Cheques will be placed to the bank on 5th, 15th and 25th of each month for deposit schemes made during 1st to 10th, 11th to 20th and 21st to 31st respectively. |
| 4. |
Installment must be deposited within the fixed date of every month. If the depositor cannot deposit the installment within the fixed date, he/she must deposit it within the 25th of that month. If the deadline of submission is a holiday, installment may be deposited on following working day. |
| 5. |
6 (six) or more Post Dated Cheques in favor of ULC may be issued during the tenure of the deposit at a time. |
| 6. |
When a depositor fails to deposit any installment on time, he/she will have to pay a fine @ 5% of the overdue amount payable or Tk.50/-, whichever is higher, at the time of depositing the next installment. |
| 7. |
Advance payment of any number of installments is acceptable. |
| 8. |
No partial withdrawal shall be allowed. |
| 9. |
Loan may be allowed up to 80% of the deposited amount against lien on the same after at least 2 (Two) years of regular payment of installments and minimum limit of the loan shall be Tk.80,000/-. |
| 10. |
The interest rate for the loan will be 2% higher than the rate of ULC’s Annual Profit Term Deposit Scheme of similar maturity. |
| 11. |
Deposit cannot be encased within 6 (six) months. However, in case of premature encashment after 6 (six) months and during the tenure of the scheme, the depositor will be reimbursed with the amount deposited so far plus interest @ ULC’s 1 year Annual Profit Term Deposit Scheme Less 2%. |
| 12. |
The periodic installments are subject to change depending on the prevailing interest rates and the installment rate declared at the time of commencement of the scheme will be applicable for you. |
| 13. |
Definition of Dormant Account: ULC may treat the account to be dormant if a depositor fails to deposit |
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a. Three (3) consecutive monthly installments on time before completion of one year. |
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b. Five (5) consecutive installments at any point after completion of a year but before completion of five years. |
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c. Seven (7) consecutive installments at any point after completion of five years. |
| 14. |
In case of commencement of payment against any dormant account (clause 19 a, b, c), the depositor will have to settle in full the delayed payment charges as per clause 8 above. |
| 15. |
In case of death of a depositor, if the nominee so authorized remains a minor, the legal guardian of the nominee is authorized to receive / draw the amount of the deposit held by ULC in the scheme. |
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