DPS TBL

Ans. Customers will be able to open a DPS with Trust Bank through TAP app instantly without any physical documents. At the end of DPS term, the total matured amount with profit will be automatically disbursed to their TAP accounts.

✓ Installment Size: BDT 500/- to BDT 4,000/- (Multiple of BDT 500/-)
✓ Tenor: 1 / 2 / 3 / 4 / 5 years
✓ Interest Rate: 8.50% p.a. (Can be changed as and when decided by TBL management from
time to time)

Maturity Table

Ans. Customers can open DPS A/C through TAP app by following the below steps.

• Select ‘DPS’ from Home Screen
• Select ‘Create New DPS’
• Select Deposit Amount, Maturity Period, Deposit Frequency, Purpose of Savings.
• Select Product (Customer needs to choose the suitable DPS product option and ensure that
his/her TAP Account balance is sufficient for the first deposit.)
• Complete the e-KYC process
• Provide Nominee Details
• View DPS Details
• Accept Terms & Conditions
• Enter PIN
• Customer will get a request submission confirmation
• Customer will be able to view the DPS status on ‘Saved DPS’ list in the first screen of DPS.
• Until confirmation from bank, there will be a header ‘In Process’ on customer’s created DPS.
• After verification, Trust Bank PLC. will open customer’s DPS A/C and send a confirmation SMS
to customer.
• After that, Customer will be able to view his DPS A/C details.

Ans. After account opening, a customer will get an SMS notification within 2 hours.

Ans. Yes. Customers can open multiple DPS A/C through TAP App.

Ans. The first installment will be realized on the account opening day. The subsequent installments will be deducted on the same date every month through auto debit instruction. Our system will automatically collect the installment amount from customer’s ‘TAP’ account.

Ans. TAP will automatically deduct the deposit amount anytime on the due date.

10. What happens if customers miss 01/02 installments?Ans. First installment will be realized on the same day. The subsequent installments will be collected on the same date of each month. If there is not enough balance of the specific day, ‘TAP’ system will wait for the next 10 days. If sufficient balance becomes available within this time, our system will automatically collect the installment amount. However, even if the sufficient amount does not become available within these 10 days, the installment amount will be considered as ‘zero’ for the specific month. If Customer pays the installment amount after 10th day, it will be considered as deposit for the next month.

Ans. Customers will not be penalized for such cases.

Ans. The installment submission is on process. It may take up to 24 hours to be reflected in app. If Savings
balance is not updated within 24 hours, then CEX&S needs to convey the information to IT with details
(Name, TAP wallet number, Bank Name, transaction ID).

Ans. On maturity, principal and profit amount will be credited to the your ‘TAP’ account after deducting applicable VAT, TAX, duties etc.

Ans. Nominee needs to request for settlement. After getting the claim,
• TAP Partnership Team will communicate with TBL to get the required documents list.
• TAP CEX&S Team will collect required documents from Nominee and TAP Partnership Team will provide TBL through mail.

Bank will verify and disburse the amount to nominee/ lawful successor’s TAP account after validation.

If no nominee has come forward to notify TAP or bank, bank will disburse the savings amount upon maturity to the customer’s TAP Account.

Ans. Will be deducted from DPS account as per rules of National Board of Revenue (NBR)/government.

Ans. Customers can go to the DPS dashboard under the ‘DPS’ icon in TAP App, Customers will see a button for Customer eTIN information where they can add/edit their TIN information.

Ans. Excise duty will be imposed on customers’ total balance if the total balance exceeds BDT 1 lac as per Finance Act 2022 effective from 1st July 2022.

The excise duty will be imposed as per regulation.

Ans. Ask customer to lower their balance to enable the DPS maturity amount to be disbursed into their TAP Account.

Ans. Yes, customers can request for early encashment from ‘Close DPS’ option in DPS A/C details Section. However, customers will not receive the full profit. Customers won’t be able to close DPS before the completion of three (3) months of deposit.

If customers want to premature the Scheme between two specific months like 06 & 12 months, then customers will receive the applied Interest Amount of Trust-TAP Digital DPS for the completed months. For the remaining months, profit amount will reflect the Interest of a regular Trust Bank PLC. savings account.

Encashment after 03 months: if customer encash the account after 03 months but before 06 months, profit amount will reflect the interest of a regular a regular Trust Bank PLC. savings account which is lower than the interest of a Trust-TAP Digital DPS.

Encashment after 08 months: if customer encash the account after 08 months, they will receive the interest of a Trust-TAP Digital DPS for the first 06 months. For the remaining 02 months, profit amount will reflect the interest of a regular a regular Trust Bank PLC. savings account.

Encashment after 14 months: if customers encash the account after 14 months, they will receive the interest of a Trust-TAP Digital DPS for the first 12 months. For the remaining 02 months, profit amount will reflect the interest of a regular a regular Trust Bank PLC. savings account

Encashment after 30 months: if customers encash the account after 30 months, they will receive interest of a Trust-TAP Digital DPS for the first 24 months. For the remaining 06 months, profit amount will reflect the interest of a regular a regular Trust Bank PLC. savings account.

Encashment after 45 months: if customers encash the account after 45 months, they will receive the interest of a Trust-TAP Digital DPS for the first 36 months. For the remaining 09 months, profit amount will reflect the interest of a regular a regular Trust Bank PLC. savings account.

Encashment after 56 months: if customers encash the account after 56 months, they will receive the interest of a Trust-TAP Digital DPS for the first 48 months. For the remaining 08 months, profit amount will reflect the interest of a regular a regular Trust Bank PLC. savings account

22. Is there any option for manual/advance payment?Ans. There is no limit currently.

Ans. Customers can pay their installment in advance from ‘make payment’ option in DPS A/C details.

Ans. There is no limit. Customers can update nominee information as many times as they want.

Ans. A customer will get the total amount in respective wallet within 24 hours given that no dispute/issue is raised.

Ans. In case of deposit payments, if there is a debit-block on the customer’s TAP account, the installment will not be paid on the due date and will be considered as a missed installment. In case of disbursement of maturity amount or early encashment, the amount will be disbursed on customer’s TAP account.

Ans. Nominee NID No, Date of Birth, Relationship with Nominee.

Ans. One.

Far far away, behind the word mountains, far from the countries Vokalia and Consonantia, there live the blind texts. Separated they live in Bookmarksgrove right at the coast

Ans. No. But as per the current regulation of Bangladesh Government, tax will be imposed on accumulated interest amount on encashment. The following rules will be applicable for tax amount calculation:

• 10% on accumulated interest for the customers who have provided e-TIN number.
• 15% on accumulated interest for the customers who have not provided e-TIN number

Far far away, behind the word mountains, far from the countries Vokalia and Consonantia, there live the blind texts. Separated they live in Bookmarksgrove right at the coast

Ans. No.

Ans. This deposit solution is not available through TAP.

Far far away, behind the word mountains, far from the countries Vokalia and Consonantia, there live the blind texts. Separated they live in Bookmarksgrove right at the coast

Ans. No, the matured amount will be disbursed to TAP account only.

Ans. There will be no hidden/additional charges

Ans. Yes, customers can provide e-TIN anytime they want.

Ans. No Cash-Out Charge will be applicable for matured DPS. Customer has to cash out the exact maturity amount (principal amount + interest amount).

Ans. Yes, a regular Cash Out charge will be applicable for early encashment/cancellation of DPS.

Ans. A customer will get the total amount in respective wallet within 24 hours given that no dispute/issue is raised