Best Banks To Open Savings Account In Bangladesh (Requirements, Facilities, etc.)

Last Updated on August 17, 2021 by

A savings account is one of the most popular banking accounts where people can save money with an interest rate. This is a versatile bank account that you can use for different purposes. Bangladesh is a developing country but its banking sector has come a long way. There are 58 banks available in Bangladesh and among them 49 private banks and 9 public banks. Thus, finding a good bank to open a savings account is not easy in Bangladesh. Therefore, if you are looking for some suggestions about the best banks to open a savings account then keep reading the article.

Some of the preeminent banks to open a savings account in Bangladesh are Eastern Bank, Standard Chartered Bank, City Bank, Prime Bank, Bangladesh Krishi Bank, Islami Bank Bangladesh, One Bank, Premier Bank, Bank Asia, and EXIM Bank. 

List Of Best Banks To Open Savings Account In Bangladesh

1. Eastern Bank Savings Account

Eastern bank savings account is known as EBL power savings and it ensures convenience, security, and profit. It provides a handsome interest rate for a low minimum balance. There is no transaction limit available in this account and you will receive the interest every month.

Features Of Eastern Bank Savings Account

• Lowest minimum balance requirement for interest
• Interest calculated on day end balance, therefore, gives you a better chance to get interest
• A handsome savings rate- paid monthly to your account
• Unlimited cash withdrawal allowed
• No loss of interest for transaction
• Comes with Visa Debit Card & Cheque Book Facility
• Best Savings account to earn interest on your small deposits     

Required Documents For Account Opening

• Completed and signed Account Opening Form
• Recent Passport Size Photo of Applicant
• Copy of Birth Certification (with attested photo ID)/ Valid Passport/ National ID
• Nominee’s Photo ID and Recent Passport Size Photo (attested by Applicant)
• Copy of Recent Utility Bill-Gas/Electricity/WASA/Telephone
• Copy of TIN (Optional)

2. Standard Chartered Bank Savings Account

The savings account of SC bank is known as Super Savers Account and it is packed with all benefits of a savings account. This account allows full transactional convenience with premium services and value propositions.

Features Of Standard Chartered Bank Savings Account

• You have to maintain a minimum balance of BDT 100,00
• Interest will be calculated based on a monthly average balance
• The interest amount will be paid at each quarter-end
• Visa Debit Card & Cheque Book Facility
• Supports Auto BillsPay and online banking

Required Documents For Account Opening

• Copy of valid Photo ID for Applicant and Nominee (such as Passport/National ID/Driving License, etc.)
• Photograph of the applicant duly attested by the introducer
• Photograph of the nominee duly attested by the applicant
• Copy of e-TIN Certificate
• Resident address verification document (e.g. Utility Bill, etc.)
• Proof of Income document (optional)
• Proof of occupation document (optional)

3. City Bank Savings Account

If you are looking for a basic savings account then the General Savings Account of the City Bank will be the best option for you. This account is packed with some amazing facilities like cashback offer on spending amount through “CitymaxX Card”, free e-statement service, internet banking service and many more.

Features of City Bank Savings Account

• Cheque-book facility
• Opportunity to apply for safe deposit locker facility
• Debit Card for easy cash withdrawal City Maxx Card for easy shopping
• Cashback facility on spending amount through City Maxx Card
• Utility bill payment service through Citytouch
• Transfer of fund on Standing Instruction
• Arrangement Collection of cheques through Clearing House
• Online banking service, SMS Alert & Call Center Facility

Required Documents For Account Opening

• NID/Birth certificate/Passport
• Photograph – 2 Copies
• Nominee photograph – 1 Copy
• Nominee’s NID/Birth certificate/Passport
• Income source document
• E-TIN  

4. Prime Bank Savings Account

Prime bank is one of the oldest private banks of Bangladesh and it was established in 1995. Prime Bank is renowned for providing highly professional banking services thus you can choose a prime bank to open your savings account. Any Bangladeshi national with the age of 18 years or above can open a savings account in Prime Bank.

Features Of Prime Bank Savings Account

• Cheque-book facility
• Debit card facility.
• Internet Banking Service
• Opportunity to apply for – safe deposit locker facility
• Transfer of fund on Standing Instruction Arrangement
• Collection of cheques through a clearinghouse
• SMS Banking
• Online banking service

Required Documents For Account Opening

• Completed account opening form.
• Passport size photograph for each account holder and nominee
• Proof of identification such as national/voter’s ID/passport/driving license of the account holder and nominee  

5. BKB Savings Account

Bangladesh Krishi bank is a public bank of Bangladesh and if you live in a village or a rural area then it will be a great bank to open a savings account. The BKB banking system gives you the freedom to conduct your banking transactions in a very simple way. You can open a savings account in any branch of BKB bank. This savings account offers a competitive interest rate on the outstanding balance and you will also be able to enjoy an ATM facility for 24-hour banking convenience.

Features Of BKB Savings Account

• Service is offered very quick & easy processing
• Transaction Notifications
• Interest for the Account is payable yearly
• Interest Rate:
  • Urban –  3.50%             
  • Rural  –  3.50%
• Three withdrawals per week from the account are permissible
• Q-cash Debit card and 24-hour free access to ATMs is available
• The account holder can withdraw up to 20,000/- in a day from any ATM Booths within Bangladesh 

Required Documents For Account Opening

• Duly filled Account Opening Form
• Two passport-sized attested copies of the applicant’s recent photograph 
• Attested copy of Valid NID/Bangladesh Passport/ Driving License of the applicant
• One copy Photograph of Nominee
• An initial deposit of Tk. 1000/- is required for opening an A/c
• Minimum balance of Tk. 1000/- to be maintained in the A/c

6. Islami Bank Bangladesh Savings Account

Islami Bank Bangladesh savings account is known as Mudaraba Savings Account (MSA) and this account operates under the Mudaraba principle of Islami Shariah. So, under this principle, the clients are the ShahebAl-Mal and the Bank is Mudarib. If you are looking for a saving account with a halal interest rate to save your money then this is the best option for you.

Features Of Islami Bank Bangladesh Savings Account

• Visa Debit Card & Cheque Book Facility
• Interest will be calculated based on the monthly average balance
• Utility bill payment service
• Online banking service
• SMS Alert & Call Center Facility
• SMS Banking     

Required Documents For Account Opening

• Complete account opening form
• 02 copies passport size photographs of account holder duly attested by introducer
• 1 copy photograph of nominee duly attested by the account holder
• Identification proof like National ID Card/Passport/Chairman certificate
• Initial deposit Tk.500/-
• Introducer signature

7. One Bank Savings Account

One bank limited is a private commercial bank and it was established in 1999. One Bank offers a Gold savings account and it is a daily interest-bearing and monthly interest-paying savings account for Bangladeshi people with an age of 18 years or above.

Features Of One Bank Savings Account

• Interest is calculated on daily basis and paid monthly
• Interest credited in the account every month
• Interest rate 3.25%
• Free internet banking
• Minimum balance required to earn interest: BDT 50,000/-
• ATM withdrawal amount maximum BDT 50,000/- per day

Required Documents For Account Opening

• NID/Birth certificate/Passport
• Photograph – 2 Copies
• Nominee photograph – 1 Copy
• Nominee’s NID/Birth certificate/Passport
• Income source document
• E-TIN  

8. Premier Bank Savings Account

The savings account from Premier bank gives you the freedom to conduct your banking transactions in a very simple way. Premier bank offers a competitive interest rate on the total balance compared to other banks. Moreover, you will be able to use VISA/MasterCard Debit Card and ATM facility for 24-hour banking convenience.

Features Of Premier Bank Savings Account

• An Interest-bearing checking account
• Initial Balance: 1000 taka
• Visa/MasterCard Debit card and 24-hour free access to ATMs
• Interest payable on Half Yearly basis
• Quick & easy processing
• Unlimited transactions allowed
• Online banking facility
• E-statement of account at a regular frequency 

Required Documents For Account Opening

• Photograph of A/c holder – 2 copies
• Photocopy of Valid NID/Passport/Driving License
• Photograph of Nominee – 1 copy
• Copy of Utility Bill

9. Bank Asia Savings Account

Bank Asia is a very popular private bank of Bangladesh and since its establishment, it is providing banking services to the most remote corners of the country. Bank Asia offers an interest-bearing deposit account where you can save your money securely and earn interest.

Features Of Bank Asia Savings Account

• Cheque-book facility
• Safe deposit locker facility
• Demand Draft
• Mail Transfer
• Telegraphic Transfer
• Transfer of fund on Standing Instruction Arrangement
• Online Banking service
• SMS Banking
• Internet Banking
• Bank Asia ATM Card Service

Required Documents For Account Opening

• Completed account opening form
• Passport size photograph for each account holder and nominee(s)
• Proof of identification
• Tax Identification Number (TIN)

10. EXIM Bank Savings Account

Export-Import Bank of Bangladesh Limited mostly known as EXIM Bank offers a Mudaraba Saving account for Bangladeshi nationals who are 18 years or above. Exim bank allows more than one person to open and operate a Mudaraba savings account. Moreover, on behalf of a minor, its guardian can also open and operate this savings account.

Features Of EXIM Bank Savings Account

• The minimum initial deposit is Tk.1000.00
• Half-Yearly account statement
• Debit card Facility with limited withdrawal
• Free ATM Cash withdrawal from all ATM of EXIM Bank
• SMS Banking for statement/Balance checking
• Salary crediting facility
• Cheque book facility
• Fund transfer facility
• Profit will be calculated monthly

Required Documents For Account Opening    

• Completed account opening form duly signed by the account holder
• 02 Copies passport size photographs of every operator duly attested by introducer
• Photographs of National ID Card/Passport/Chairman certificates
• Introducer signature
• Passport size photographs and signature of Nominee