Costs on bank deposits are increasing. The Finance Minister has proposed to increase excise duty in three tiers. Excise duty was till now 5 tiers but now it has been increased to 8 tiers. Excise duty or excise duty is deducted once in every calendar year on the basis of maximum status of deposit, loan or any other reason. However, any type of deposit in an offshore banking unit will not attract duty.

There are currently five tiers of excise duty. No duty is payable on deposits of tk. In the future, the duty will not be deducted on deposits up to one lakh taka. And from more than one lakh taka to five lakh taka 150 taka and more than five lakh to taka 10 lakh taka 500 duty will remain unchanged.

Until now, the duty was deducted from more than 10 lakh taka to one crore taka 3 thousand. Now here two tiers of 3000 taka up to 50 lakh taka and 5000 taka from more than 50 lakh taka up to 1 crore taka have been proposed.

From more than 1 crore taka to 5 crore taka so far it was 15 thousand taka. In this case too, two levels have been made up to 2 crores and 10 thousand takas. And from more than 2 crores to 5 crores, 20 thousand taka will be deducted. Besides, in case of deposit of more than 5 crore rupees, the duty rate of 50 thousand rupees has been kept unchanged.

Everyone has to pay a tax of 10 or 15 percent on their profits beyond excise duty. Apart from this, banks charge different types of fees including service charges. Apart from all this, if inflation is taken into account, keeping deposits in banks actually reduces. Economists and bankers suggest not to cut such charges to encourage people to deposit in banks.