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EBL Introduces DPS With Life Insurance Coverage

The scheme provides guaranteed maturity value of the deposit to the nominee of the depositor, in case of his/her sudden demise

Eastern Bank has introduced the ‘EBL Secure DPS’, a monthly savings scheme with complete life insurance coverage. As per the scheme, a depositor can hoard Tk. 500 up to a maximum of Tk. 13,000 monthly, with built in insurance premium for a period of five years, reported Financial Express.

The scheme provides guaranteed maturity value of the deposit to the nominee of the depositor in case of his/her sudden demise.

The maturity value at the end of the five years’ deposit time may range from Tk. 36,973 in case of Tk. 500 monthly deposit, to Tk. 961,300 in case of Tk. 13,000 monthly desposit, the company said.

Ali Reza Iftekhar, Managing Director and CEO, EBL, said: The innovative product is designed to provide a kind of social safety net for the middle class people through which a depositor can assure much needed financial support for his spouse or family after he/she departs.