Info on govt’s savings scheme just a few clicks away
The government yesterday rolled out a mobile app for savers to know about government's savings schemes and other procedures without going through the hassle of paying a visit to banks for the information, in yet another manifestation of the current ruling party's Digital Bangladesh agenda.
Called the Sanchoy app, the tool offers information regarding all 11 savings schemes, interest rates, tenure, investment ceiling and investment eligibility to a saver.
It also provides information about the offices from where one can buy the desired savings certificates and the application procedure for purchasing the instruments, according to Shamsunnahar Begum, director general of Directorate of National Savings (DNS).
DNS, an office under the Internal Resources Division of the finance ministry, introduced the app, which was inaugurated by IRD Senior Secretary Abu Hena Md Rahmatul Muneem at an event organised to celebrate Bangabandhu Sheikh Mujibur Rahman's birth centenary at the National Board of Revenue headquarters yesterday.
The app has a calculator to enable a saver to compute profits from various savings instruments based on investment duration.
It will also allow investors to know about the net profit and the amount of withholding tax to be deducted when cashing out the scheme.
"It is a very good side of the app," Begum said, while presenting the features at the event.
The app will also inform on the results of the government's prize bond draws.
The government introduced automation of the savings instrument machinery in July last year with the objective to ensuring transparency in investment and curb the scope to breach the investment ceiling.
"Because of automation, we can monitor the investment amount of a person. By using his/her national identification number, we can know the total amount of investment in savings schemes even if the person keeps certain amount in Dhaka and a portion outside of Dhaka," Begum said.
At present, there are nearly 2 crore registered investors in the state-sponsored savings instruments.
The interest rates on the three-month profit-bearing savings certificate offering is the lowest at 11.04 per cent interest, while pensioner savings certificate offer the highest rate of 11.76 per cent.
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