Banking On Trust

The digital era of deposits

Long gone are the days when making a deposit meant queuing up at a branch, filling forms, and waiting for manual verification. Today, deposits have moved to the digital realm accessible with a few taps on mobile apps, available 24/7, and tailored to customer needs. Bangladesh's banking sector is undergoing a silent revolution where deposit innovations are redefining how people save, invest, and grow their money.

In Q1 2025, total deposits in Bangladesh stood at BDT 19.24 trillion, reflecting a 9.51% year-on-year growth. This growth is not just a result of economic resilience but also of the digital innovations in deposit products that are attracting more customers with ease of access, personalised schemes, and improved security.

Digital Deposit Schemes

NCC Bank is among the banks leading this change. Along with traditional deposit plans like Deposit Plus, Kotipoti, and Parama Super Saver, it is investing heavily in digital delivery. "Digital transformation is no longer optional; it's imperative," said M. Shamsul Arefin, Managing Director of NCC Bank. "We are reshaping customer journeys through AI-driven data analytics, automation, and platforms like our 'NCC Always' internet banking, which provides 24/7 access to savings accounts, deposits, and fund transfers."

The bank is also introducing digital schemes for senior citizens, students, and low-income groups, ensuring greater financial inclusion. "Our deposit growth in 2024 was three times higher than 2023, a reflection of our customers' trust in convenient and transparent digital solutions," Mr. Arefin added.

Digital-Only Deposits

Midland Bank PLC is taking deposit innovation a step further with fully online products. Through its 'midland online' platform, customers can open Digital FDRs or Family Support Schemes and receive an additional 0.25% profit for using online channels.

"Innovation is central to how we build trust and empower customers," said Md. Ahsan-uz Zaman, Managing Director & CEO of Midland Bank. "From card-less cash withdrawals to automated tax certificate submissions, our depositors enjoy features that make banking seamless. We're also incentivising digital deposits with cashback and rewards."

The bank's virtual cash management platform also simplifies corporate deposit flows, reducing the need for cheques or physical branch visits.

Micro-Savings and Nano Banking

A large portion of Bangladesh's population remains unbanked, and NRBC Bank is aiming to change that through nano banking services and micro-deposit schemes. "We plan to introduce digital deposit packages where even daily or weekly savings can be made through mobile apps," said Dr. Md. Touhidul Alam Khan, Managing Director & CEO of NRBC Bank.

The bank is also finalising its e-KYC platform, which allows customers to open savings accounts entirely online. "Expatriates, freelancers, and rural communities will benefit the most, as deposits can be made without visiting a branch," Dr. Khan added.

Frictionless, Self-Service Deposits

Eastern Bank Limited (EBL) is making deposits effortless with its digital self-service platform, allowing customers to open accounts, FDs, or DPS from anywhere. "We are focused on making deposit processes as simple as ordering food online; fast, secure, and paperless," said Ali Reza Iftekhar, Managing Director of EBL.

EBL's biometric metal card adds an additional layer of trust by combining aesthetics with fingerprint-based security, ensuring deposit accounts are safer than ever.

Redefining the Deposit Experience

City Bank's Citytouch platform exemplifies how deposits have evolved into real-time, interactive experiences. "Citytouch is not just an internet banking app; it's a complete digital ecosystem for fund transfers, deposits, and utility transactions," said Mashrur Arefin, Managing Director & CEO of City Bank.

Similarly, Trust Bank PLC has streamlined deposit access with instant debit and virtual card issuance. "Our focus is on ensuring deposits are accessible and secure, backed by multi-layered digital security systems," said Ahsan Zaman Chowdhury, CEO of Trust Bank.

From digital FDRs and AI-driven savings plans to micro-deposit apps and fingerprint authentication, banks in Bangladesh are rewriting the rules of deposit banking. As Mr. Arefin of NCC Bank put it, "The future belongs to banks that combine trust with technology helping customers save not just money but time, effort, and worry."

The journey is far from over. With e-KYC, mobile-first onboarding, and AI-powered deposit management on the horizon, digital innovations will continue to shape a future where saving becomes as simple as a swipe or tap.

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