Staff Reporter :
The interest rates on savings certificates and wage earners development bond has been declined by one to three per cent.
In a circular the Internal Resources Division (IRD) under the Finance Ministry on Tuesday said that the new interest rates would be applicable for individual and institutional investors in the case of new investment of over Tk 1.5 million.
However, the investor will get interest at the existing rate of 11.28 per cent for investment lower than Tk 1.5 million.
For five-year savings certificate, the interest rate would be 10.30 per cent instead of 11.28 per cent if the investment is more than Tk 1.5 million.
For investment of about Tk three million, the interest rate would be 9 per cent. Interest rate for three-monthly profit-based savings certificate is 11.04 per cent. If the investment is over Tk 1.5 million then the rate goes down to 10 per cent.
The interest rate of five-year pensioners’ savings certificate is 11.76 per cent.
For investment of about Tk 1.5 million, the rate would be 10.75 per cent.
The country’s top selling family savings certificate provides 11.52 per cent interest rate.
If the investment crosses Tk 1.5 million, then the rate will be 10.50 per cent and for over Tk 3 million it will be 9.50 per cent.
Interest rate for post office bank-term account, the present rate is 11.28 per cent, which would be 10.30 per cent if the investment crosses Tk 1.5 million and 9.30 per cent for over Tk 3 million.
In new investment in wage earners development bond, interest rate would be 10.27 per cent instead of 11.20 per cent if the investment amount crosses Tk 1.5 million, the circular read.
If the investment crosses Tk 3 million then the interest rate would be 9.33 per cent and in case of investment over Tk 5 million the interest rate would be 8.40 per cent.
