5 things to check before opening an FDR in Bangladesh

Fixed Deposit Receipts (FDRs) are one of the most common ways Bangladeshis park savings, but not all FDRs are created equal. Before you commit your money for months or years, it is worth checking a few things beyond the headline interest rate. First, ask whether the rate is fixed for the full tenure or can change. Some banks reprice FDRs periodically, which matters if you are locking in for the long term. Second, understand the premature-withdrawal penalty. Life happens, and if you need the money early, the bank will usually cut your effective return, so know the exact terms before you sign. Third, check how interest is compounded and paid out: monthly, quarterly, or at maturity. This changes your actual yield even when the headline rate looks the same across banks. Fourth, confirm the minimum deposit and whether there are different rate tiers for larger amounts: some banks offer meaningfully better rates above a certain threshold. Finally, factor in tax. Interest income from FDRs is subject to tax deduction at source, and the rate can differ depending on whether you have a valid TIN on file with the bank, so make sure your paperwork is in order before you open the account. Compare a handful of banks side by side using our FDR calculator, and read the account terms document, not just the rate sheet, before you decide.