What's Happening?
Eastern Bank PLC (EBL) and bKash Limited have introduced the first digital fixed deposit receipt (FDR) service in the country via the bKash app. This service allows bKash users to open an EBL FDR instantly without visiting bank branches or submitting
paper documents. Customers can open FDRs ranging from Tk 10,000 to Tk 100,000 for six or 12 months, with interest credited directly to their bKash accounts. The initiative aims to make reliable savings products more accessible, particularly for people in semi-urban and rural areas, promoting financial inclusion and empowerment.
Why It's Important?
The launch of the digital FDR service represents a significant step towards financial inclusion, offering convenient and accessible savings options to a broader customer base. By leveraging bKash's extensive digital infrastructure, Eastern Bank can extend its services to millions of users, particularly in underserved areas. This collaboration between banks and mobile financial service providers highlights the potential for innovative financial solutions that cater to the needs of diverse populations, ultimately contributing to economic empowerment and financial literacy.
