Dhaka, Bangladesh (BBN) – Mercantile Bank Limited is focusing on its mobile banking product –‘MYcash’ – at the Banking Fair Bangladesh-2015 to expand the banking services to the lower income group.
Clients will be allowed to open account with ‘MYcash’ without any balance, Md Amdadul Hossain, assistant officer of Mercantile Bank, told BBN at the fair in Dhaka on Wednesday.
Bangladesh Bank Governor Dr Atiur Rahman inaugurated the five-day long banking fair on Bangla Academy premises in Dhaka on Tuesday aiming to build a banking nation through boosting the ongoing financial inclusion campaign across the country.
The private commercial bank (PCB) will upload the deposited amount instantly with the ‘MYcash’ account of the clients, according to Mr. Hossain.
He also said the bank has also introduced a deposit pension scheme for the clients of the mobile financial service.
Under the scheme, a client will get BDT 20,731 after three-year if he or she deposit BDT 500 per month while receiving BDT 97,483 after 10-year paying the same installment.
The PCB has introduced the DPS to popular its mobile banking to the garment and other industrial workers, the banker said, adding that the DPS has already popularized among the workers.
BBN/SSR/RZ