BB asks banks to reduce account maintenance fees

Bangladesh Bank (BB) has issued a master circular for account maintenance fees of the scheduled banks for increasing deposits in the banking sector and bringing the small depositors in banks.

The central bank, in a circular, today instructed the scheduled banks not to cut any maintenance fee for average deposits of up to Taka 10,000 in savings accounts which was earlier Taka 5,000.

BB also instructed banks to cut Taka 300 in each six months for current accounts which was earlier Taka 500.

BB also asked banks to cut maximum Taka 100 for average deposits from Taka 10,000 to Taka 25,000 in savings accounts, while Taka 200 for Taka 25,000 to Taka 2 lakh, Taka 250 for Taka 2 lakh to Taka 10 lakh and Taka 300 for Taka 10 lakh and above.