Standard Chartered Bank-NFCD Account
It is an Interest bearing Foreign Currency (FCY) Term Deposit account.
Special Features
- No fees and charges
- Dual-Nationals can open this account
- Funds along with interest in these accounts can be freely repatriated abroad
- No tax on interest
- FCY can also be converted into Taka
- The fund must be present in the account for at least 1 month to earn interest
Frequently Asked Questions:
Who can open this account?
- Non Resident Bangladeshis
- Local Companies register in
- Foreign nationals, companies, firms, banks, financial institutions and EPZ units
Which fund can be used to open this account?
- Funds transferred from Wage Earners FCY A/C
- Remittances in other convertible account in other convertible currencies can be converted into USD, GBP and other currencies.
What is the minimum opening amount?
- Minimum USD 1000 or GBP 500 (for individual Bangladeshis)
- Minimum of USD 25,000 or equivalent GBP (for others)
What is the interest structure available in this account?
- Tenor: Fund has to be present for Minimum 1 month
- Rate: Rates are based on international market rates and Bangladesh Bank guidelines
- Interest Forfeiture: As NFCD is a type of term deposit, hence Interest forfeited if deposit withdrawn.
