For people from middle-income families with limited earnings, reaching one crore taka is often seen as a key financial milestone. There was a time when being wealthy meant becoming a “crorepati.” Today, due to high inflation, the value of one crore taka no longer carries the same prestige—especially when apartment prices in Dhaka alone often exceed that amount.

Still, for the middle class, one crore taka remains a significant goal. If a family can set aside this amount after covering all expenses, it can ensure a relatively comfortable life in later years.

Considering this demand, many banks in Bangladesh have introduced special “Millionaire Schemes.” One of the country’s leading banks, Mutual Trust Bank (MTB), also offers such a scheme. Through regular savings under this plan, customers can accumulate one crore taka within a maximum of 20 years. The scheme’s tenure ranges from 4 to 20 years.

Monthly Installments by Tenure

Generally, the longer the savings period, the lower the monthly installment. Shorter tenures require higher monthly payments. Under the MTB Millionaire Scheme, installment amounts vary based on the selected duration.

Key Features

Any adult can open this account individually or jointly.

Available tenures are 4, 5, 6, 8, 10, 12, 15, 18, and 20 years.

Multiple accounts can be opened under the same customer name at the same branch.

Monthly installments must be paid by the 20th of each month, either in cash, by cheque, or through auto-debit from another account. If the 20th is a holiday, payment is accepted on the next working day.

Failure to pay three consecutive installments will result in account closure. The payable balance will be transferred to a linked deposit or sundry account, and the customer will be notified.

If funds are withdrawn before maturity, interest will be calculated at the savings account rate. No interest is paid if withdrawal occurs within one year.

In the event of the account holder’s death, the scheme is closed and the deposited amount with applicable interest is paid to the nominee, as per bank rules.

Advance installments are allowed, but no extra interest is provided.

Late installment payments incur a penalty of either 2% of the installment amount per month or Tk 200—whichever is higher.

Customers must inform the branch in writing if their address changes.

At maturity, government-mandated source tax and excise duty will be deducted.

Required Documents

Opening this account requires standard banking documents: photographs and national ID cards (NID) of the customer and nominee, along with an introducer who already has an account with the bank. The introducer verifies the customer’s photo, while the customer verifies the nominee’s photo. All required signatures must be provided, along with contact details for emergency communication.

Important Notes

Banks frequently offer different savings products, so customers should evaluate a bank’s financial stability and scheme features before investing. Choosing a weak or unstable bank can put savings at risk.

A key principle of successful saving is setting aside money before spending—not saving what remains after expenses. Decide on a fixed savings amount first, then manage expenses accordingly. Alongside saving, informed investment can help grow wealth. Even small but regular savings can make a big difference. If income cannot be increased, reducing unnecessary expenses can help boost savings.

With consistency and discipline, even modest earners can gradually build meaningful financial security.