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As an electronic settlement, it ensures transfer of funds from one account of a bank to that of another bank on a real-time and on gross basis. Here real-time refers transactions that do not need any waiting period. Transactions are settled as soon as they are executed.


Bangladesh Automated Cheque Processing System (BACPS) and Bangladesh Electronic Funds Transfer Network (BEFTN) are designed to automate cheque clearing to speed up the processing and reduce risks as well as provide a medium for paper-less interbank payments.

Fund transfer through ATM

ATMs provide a couple of facilities and services to the customers. One of them is to transfer money from one bank account to another using your debit/ATM card. Money transfers through ATMs can be helpful in urgent situations.

Fund transfer from INB

With internet banking, customers can transfer funds between bank accounts without having to visit the bank. The transaction can be made through the BEFTN facilities between banks. Net banking offers a 'Fund Transfer' option, for quickly transferring funds to third-party beneficiaries within the bank.

Double Your Deposit

Product Name SBI Double Your Deposit
Eligibility Individuls
Tenure 12 Years *
Rate of Interest 6% p.a. *
Maturity Value/Lac Tk.203,279.00*
Compounding of interest procedure ( frequency of interest application ) Half Yearly
Minimum Size of initial deposit Tk.50000/- & multiples of Tk.500
Penalty on premature encashment 1% on the rate ( as on the contract date) applicable for the period deposit has remained with the Bank.
Loan facility Available under Secured Over Draft facility.90% of total deposit, @2.50% above the deposit interest rate
Nomination Allowed
KYC formalities As per existing norms
Tax Implications Tax Deductible at Source, as per Income Tax Act
  • Subject to change, with the change in rate of interest