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SHANCHOY SCHEME

Shanchoy Scheme is a small deposit investment facility, you can deposit on a monthly basis and at maturity you will get the principal amount along with interest.

PRODUCT FEATURES

  • You can save Tk.500 (minimum) to Tk.10,000 (maximum) per month
  • Deposit Tenure is 3 to 7 years
  • No initial deposit is required
  • Quick loan facility up to 80% of principal amount after 6 (six) months

Why Choose United Finance

CUSTOMIZED DEPOSIT FACLITY

A wide range of deposit products and services to choose from monthly savings and term deposit schemes

SMART INVESTMENT

Quick loan against deposit facility and Auto renewal option and Electronic fund transfer helps in reducing your effort.

DOORSTEP ASSISTANCE

Impeccable service through a network of 19 branch offices and more than 300 employees across the country.

IN OPERATION SINCE 1989

Operating for more than 2 decades, with reputation, in the financial industry of Bangladesh.

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Any Bangladeshi citizen or Organizations incorporated in Bangladesh can open deposit accounts. However, insured schemes can only be opened by the individuals aged between 18 to 56 years. If a minor is main applicant, a legal guardian is required to operate the account.

Yes, joint application facility is available and the account can be operated by either of the depositors or by both toghther.

Usually, nominee is added at the beginning. However nominee can also be added or replaced even after the facility is in operation

Yes, nominee can be a minor.

No. Cheques are issued in favour of legal guardian of a minor. In this case, proof of guardianship from court may be required if not provided already.

In case of death of depositors, the nominee/ successor/ legal heir can encash the account and receive deposit amount by providing proof of death. If a nominee was not appointed by the depositor(s), successor or legal heir must provide valid documents such as succession certificate to claim the proceeds.

No, cheques can only be provided in favour of depositor(s). Only in case of death of depositor(s), cheques can be provided to the nominee/successor/legal heir.

Yes, third party can be appointed to operate your account. But, third party can only request for statements. They won’t be entitled to receive cheques of encashment or quick loan in their favour.

In order to encash your deposit, you will have to submit a SERVICE REQUEST FORM duly filled and signed and the deposit instrument duly signed. You can come to the nearest branch of United Finance or contact with your Deposit Associate to collect the documents from you.

No, your deposit account cannot be converted into another scheme.

Yes, you can use your deposit as security and lien marked to another institution. In order to do so, you will have to submit an application and deposit instrument to that organization. Respective organization will send us a letter, requesting to lien mark your deposit in their favour. We will do so and provide confirmation to that organization. You will not be entitled to encash your deposit until we are receiving clearance from that organization.

As per schedule of fees and charges of deposit

Yes, you can encash your scheme after 3 (three) months in operation.

In case of encashment within first 12 months, you will not be entitled for any interest. But if the encashment is after 12 months and before maturity you will receive an interest rate of 4%. But in case of Millionaire Plus Scheme (MPS), encashment after 3 (three) will be entitled for an interest rate of 4%.

Yes, you can avail loan facility against your deposit at any time during the tenure of your scheme.

You will receive XX% of your investment or deposit amount as loan.

Quick loan is a product where we provide loan facility to you in against of your deposit amount.

Interest rate for Quick Loan against earners’ scheme is 3% above the prevailing deposit rate.

If you missed an installment, we will adjust your due on FIFO basis. However if three consecutive monthly installments are not paid within stipulated time, the facility will be held as dormant. Any payment afterwards will not be allocated.

In case of a Term Deposit Scheme it will be auto renewed at maturity, if you do not encash. In case of Buildup Schemes (products that are on installment basis), facility becomes expired at maturity and you can encash at your convenience.

As per National Board of Revenue (NBR) directive, You will have to pay TAX in advance on the interest received and EXCISE DUTY on each financial year. Details of which is provided at Fees & Charges of Liability Products. Therefore, final amount can be less than the stated amount at maturity.

Required Documents

  • United Finance Deposit Account Opening Form duly filled in and signed
  • A cheque or Pay Order in favor of 'UNITED FINANCE LIMITED'
  • Copy of Passport or National ID of the applicant, co-applicant and nominee
  • One recent color photograph of the applicant
  • One recent color photograph of nominee, attested by the applicant
  • Copy of E-TIN certificate (if any)

Account Opening Procedure

  • Drop the application form along with the cheque and necessary documents to your nearest and convenient branch location of United Finance
  • Account will be opened as soon as the cheque is cleared, and account certificate will be available within the next day
  • You can also contact our customer service, we will attach an associate with you
  • Your account will be opened and duly delivered to you by the deposit associate

Why Choose United Finance

CUSTOMIZED DEPOSIT FACLITY

A wide range of deposit products and services to choose from monthly savings and term deposit schemes

SMART INVESTMENT

Quick loan against deposit facility and Auto renewal option and Electronic fund transfer helps in reducing your effort.

DOORSTEP ASSISTANCE

Impeccable service through a network of 19 branch offices and more than 300 employees across the country.

IN OPERATION SINCE 1989

Operating for more than 2 decades, with reputation, in the financial industry of Bangladesh.

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