Dhaka: IDLC Finance and bKash, two of the country’s leading financial service providers, have jointly launched a digital Fixed Deposit Receipt (FDR) service. This new offering simplifies the process for customers to save through fixed-term deposits. Customers can now instantly open FDRs ranging from BDT 10,000 to BDT 100,000 with tenures of 6 and 12 months directly through the bKash App. This service allows customers to open FDRs from the comfort of their homes without any paperwork, with the entire process-opening an FDR, receiving periodic interest, and obtaining the full amount upon maturity-being completed digitally through the bKash app.

According to United News of Bangladesh, M Jamal Uddin, CEO and Managing Director of IDLC Finance, and Ali Ahmmed, Chief Commercial Officer of bKash Limited, announced the launch at an event held at the IDLC office in Dhaka. Senior officials from both organizations were also in attendance. The service allows customers to receive periodic interest from their IDLC FDR directly into their bKash account. Additionally, customers can download and preserve digital FDR receipts directly from the bKash App. An auto-renewal option is also available, enabling customers to automatically renew their FDRs upon maturity.

M Jamal Uddin expressed that, after introducing the DPS through bKash for the first time in the country, they are now expanding into term deposits to make savings tools more accessible. This collaboration between IDLC Finance and bKash demonstrates a commitment to simplifying savings for a wider population by using technology to reach those outside traditional banking.

Ali Ahmmed stated that through partnerships with financial institutions, bKash continues to make savings services more accessible to people across the country. Following the DPS service, the new FDR service will enable bKash customers to grow their savings more effectively and achieve their financial goals. This collaboration aims to further strengthen financial empowerment and inclusion.

It is noteworthy that customers have been using IDLC Finance’s weekly and monthly DPS services through the bKash App for nearly five years, receiving a tremendous response. The new FDR service, as part of this partnership, now offers customers an opportunity to open fixed-term savings.