Dhaka, Bangladesh (BBN) – Bangladesh Bank (BB) has revised its schedule of charges asking the commercial banks not to impose any maintenance fee for saving account of up to BDT 5000, officials said.

Under the revision, the commercial banks will not fix any charge for up to BDT 5000 for maintaining saving account.

But the banks will be allowed to impose charge only BDT 100 on half-yearly basis for the depositors having average deposit balance between BDT 5001 and BDT 25000.

Besides, the banks will be able to charge maximum BDT 300 for depositors having average deposit balance above BDT 25000.

Earlier, the banks were allowed to impose charge maximum BDT 300 and BDT 500 for saving and current accounts respectively.

“We’ve revised the schedule of charges aiming to protect small depositors interest,” a BB senior official told BBN on Saturday, adding that the central bank would rationalize the schedule of charges in consolation with stockholders time to time.

The central bank issued a circular in this connection on Thursday and asked the chief executives and managing directors of all scheduled banks to maintain the latest instruction on charging for saving accounts.

On December 22 last, the central bank issued a master circular on schedule of changes for both lending and deposits that has come into effect from January 1, this year.

Clients will be able to take balance confirmation certificates from banks for free twice a year, according to the circular. “If anyone asks for a statement more than twice a year, they may be charged a maximum of BDT 200,” the central bank said.

Different trade bodies, including the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), Metropolitan Chamber of Commerce and Industry, Dhaka (MCCI), Bangladesh Garment Manufactures and Exporters Association (BGMEA) and Bangladesh Knitwear Manufactures and Exporters Association (BKMEA) earlier requested the central bank governor for taking necessary measures to bring down the banks’ commissions and service charges to a reasonable level.

BBN/SS/SI/AD-15May10-9:05 pm (BST)