BoB launches additional fixed deposit scheme feature

Business News

Clients can now have greater flexibility with their FD accounts

Bank of Bhutan (BoB) launched an additional feature under its Fixed Deposit (FD) scheme that allows clients holding FD with the bank to partially withdraw the required amount without having to close their entire FD account.

In this feature, if a client requires any amount to be withdrawn from his or her FD account prematurely, he or she can do so without having to close the entire FD account. The client can premature only the amount required and the bank’s system will perform premature calculation only on the amount withdrawn, thus, saving premature penalty cost on the entire deposit.

A BoB official said that with this new added feature, clients can now have greater flexibility with their FD accounts, and help in saving more.

He added that the clients can continue their FD with the balance amount, with same account number, tenure and interest rate provided during the time of opening of the FD.

Established in 1968 through a Royal Charter the Bank of Bhutan is the oldest and largest bank in the Kingdom with presence in all Dzongkhags through a network of 52 branch offices and 12 extension counters.

The Bank is owned by Druk Holding and Investments, the investment arm of the Royal Government of Bhutan and the State Bank of India, the largest public sector bank in India in an 80:20 ratio.

Dechen Dolkar from Thimphu

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