AB Bank introduces guaranteed insurance benefits up to Tk 80 lakh without premium
AB Bank has introduced a new product called AB guaranteed Fixed Deposit.
Under this product, customers will get life insurance benefits up to Tk 80 lakh without paying any premium with all the benefits of fixed deposit.
AB Bank President and Managing Director Tarique Afzal inaugurated the service at a function at Sonargaon Hotel in the capital on Monday.
Keep updated, follow The Business Standard's Google news channel
He said, "'AB guaranteed is an exceptional product in the country's banking sector. No other bank has come up with such a product before. As a result of the pandemic, people are suffering from insecurity. We have brought this product for the customers keeping that in mind. Met Life will be the strategic partner to provide insurance benefits for this product.``
AB Bank says that if a customer makes a minimum fixed deposit of Tk 5 to 10 lakh, they will get an insurance benefit of Tk 50 lakh in case of accidental death. If the deposit is above Tk 10 lakh, the value will be Tk 80 lakh.
However, in case of natural death of the customer, the insurance benefit will be Tk 20 lakh.
According to the organisation, any Bangladeshi citizen between the ages of 18 and 64 can avail the services of this product.
At the time of opening an AB guaranteed fixed deposit account, the customer must have a minimum of Tk 25,000 in his savings or current account.
