Investment in savings certificates: some can get a maximum of one and a half crore, others one crore



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Customers are happy that confusion is eliminated even if there is no new message in the notification. However, a customer named Khurshid Alam said, “In this information technology age, the Savings Department is a blind office. It is very far to build a digital Bangladesh, rather an obstacle on the way to becoming a digital Bangladesh. If there is a new decision, the department takes time to upload it to its website.

Apart from that, it has a “manual containing information on savings deposits” and misleading and incomplete information on the website. For example, although the rules have changed since July 1, 2019, the information is still available on the department’s website. A five-year Bangladesh Savings Certificate can be purchased for Tk 30 lakh in one name and Tk 60 lakh in the joint name. It can even be purchased in the name of a minor.

It has also been said that for profit savings certificates can also be purchased every 3 months at a maximum of Rs 30 lakh in sole name and Rs 60 lakh in joint name. Retiree Savings Certificates can be purchased in one name only for a maximum of Rs 50 lakh and Family Savings Certificates can be purchased in one name for a maximum of Tk 45 lakh.

The department goes on to say that duplicate savings certificates are issued if savings certificates are lost, burned, or damaged. But Bangladesh Bank, public-private banks, Savings Department branches, post offices, etc. from where savings certificates are sold, it has been proven that now you cannot buy savings certificates in the name of minors. Unlike savings certificates, no certificates are issued now. As a result, the issue of issuing duplicate savings certificates in the event of loss, burn, or damage is irrelevant.

Ahsan H. Mansoor, executive director of the Policy Research Institute (PRI), a private research institute, said at first glance a few days ago: “The Savings Department is spreading confusion on a whim. People benefit from knowing general information on the website, but they are outdated, not smart. “

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