Padma Bank customers can now open FD, DPS thru’ Wallet App

Customers of Padma Bank now have the option to independently open Fixed Deposits (FD) and Deposit Pension Schemes (DPS) using Padma Padma Wallet App.

They do not have to go through the struggle of physically visiting any of bank’s branches, nor do they need any physical forms, images, or papers to fill out to open the accounts, according to a press statement issued recently.

The new feature was unveiled at the bank's headquarters on Tuesday, said the press statement. SEVP and Head of CLMD Sabbir Mohammad Sayem, EVP and COO Syed Tauhid Hossain, Head of Channels and Digital Banking Muhammad Zakaria Karim, Head of Corporate Affairs and Communications Shayantani Twisha & senior officials of different department were also present on the occasion.

According to the press statement, the process of opening an FD or DPS account at Padma Bank has been made entirely paperless and digital. Customers can complete the process using only a smartphone and an internet connection.

With a few clicks, FD and DPS accounts will be instantly created. This new service through Padma Wallet will simplify banking for clients.

The minimum amount for digital DPS is Tk 50 while for FD, it is Tk 5,000. Customers will instantly receive a confirmation slip through email. The branch where the FD and DPS are opened is where customers can pick up the original physical copies.