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What Do Bangladeshi Banks Offer for Students?
MUJIB RAHMAN
In Bangladesh, school banking schemes are transformative initiatives fostering financial literacy and saving habits among students. Launched following a 2010 circular by Bangladesh Bank, these programs engage banks and schools to teach young learners essential skills in money management, budgeting, and investing. Through tech-savvy approaches, students access no-frills accounts, ATM cards, and mobile banking, aligning financial and digital literacy. This initiative not only nurtures a saving culture but also empowers future leaders and entrepreneurs.
Al-Arafah Islami Bank PLC has launched the “One School, One Branch, One Bank, All Banking Services” initiative, focusing on school banking as a social responsibility rather than a commercial venture. This program ensures each branch partners with one school annually, conducting seminars, workshops, and campaigns to open student accounts.
Sk Aksadul Hoque, SAVP and Head of FID, stated, “As of November 2024, there are a total of 144,343 accounts, with 66,921 male account holders and 77,424 female account holders.”
In 2025, the bank plans to distribute essential educational materials to students nationwide, reinforcing its commitment to bridging the digital divide and fostering financial literacy among the youth.
City Bank PLC has redefined school banking by focusing on empowerment and accessibility for students. Md. Arup Haider, Deputy Managing Director & Head of Retail Banking, highlights the bank’s vision: “Banking for students should go beyond merely providing accounts—it should empower and inspire.”
To this end, City Bank offers zero-balance accounts with no maintenance fees, making banking accessible for all. These accounts feature attractive interest rates and personalized debit cards, fostering a sense of independence and financial responsibility among students. The bank’s digital platform, Citytouch, further caters to tech-savvy youth.
City Bank also hosts an annual School Banking Conference and has conducted financial literacy programs in 128 schools, reaching over 20,000 students nationwide—one-third from rural areas.
Dhaka Bank is dedicated to fostering financial literacy and responsible money management among students. Sheikh Mohammad Maroof, Managing Director of Dhaka Bank, shared, “We are committed to empowering students with financial tools to prepare them for a prosperous future.”
The bank offers tailored student accounts, savings schemes, and educational products such as the Edu-Savings Plan, Aspire Student Prepaid Cards, and Tuition Support Loans. It also provides Student File Services to manage overseas education funds. Dhaka Bank is integrating technology, personalization, and sustainability into its offerings to attract Gen Z and beyond, with plans to introduce rewards for purchasing tech-related products. Regular Edu-Campaigns in educational institutions, along with initiatives for rural areas, underline the bank’s commitment to financial inclusion and supporting the next generation of leaders.
Eastern Bank PLC (EBL) has become a trusted name in school banking by offering tailored solutions that prioritize accessibility and value. Ali Reza Iftekhar, Managing Director and CEO, affirms, “At EBL, we aim to inspire savings habits while making banking convenient and rewarding for students.”
Key offerings include competitive interest rates, complimentary debit cards, free ATM withdrawals, and zero charges for internet banking and account maintenance. With a minimal initial deposit of only BDT 100, EBL ensures financial inclusion for all. Additionally, promotional gifts like school bags and geometry boxes further encourage students to embrace banking early.
Midland Bank plays a vital role in promoting financial literacy and responsibility among students. Md. Ahsan-uz Zaman, Managing Director & CEO of Midland Bank, emphasized, “We don’t just offer financial services; we build lifelong relationships that foster financial responsibility and prepare students for prosperity.”
The bank offers tailored student accounts such as the “MDB School Saver” and “MDB College Saver,” with no minimum balance requirements, competitive interest rates, and minimal initial deposits. These accounts are designed to involve parents in managing their children’s finances responsibly. Midland Bank also provides exclusive loan schemes for higher education, with preferential rates for long-term account holders. Through its Financial Literacy Wing and innovative financial products, the bank is helping shape a financially aware and empowered future generation.
MTB is dedicated to meeting the unique financial needs of students. Md Arifur Rahman, In-charge of Student Banking, explains, “We strive to make financial management simple, secure, and empowering for students at every stage of their education.”
MTB offers specialized products such as MTB Junior and MTB Graduate savings accounts, which provide benefits like no maintenance fees, complimentary life insurance, and attractive interest rates. For long-term savings, MTB offers plans like the MTB Educational Plan and MTB Children’s Education Deposit Scheme. MTB also assists students preparing for higher education abroad through the MTB Student File service. Additionally, the bank runs awareness campaigns and offers scholarships, helping students develop financial literacy and reach their educational goals. MTB is committed to supporting the dreams and aspirations of students, ensuring they are financially equipped for the future.
National Bank Limited (NBL) is a committed advocate for financial literacy and inclusion, actively participating in Bangladesh Bank’s School Banking Conferences and leading events in Kishoreganj and Jhalakathi in 2018 and 2019. The “NBL Shikkharthi” School Banking Account reflects this commitment with its unique features: no fees, a 1% higher interest rate than general savings, and SMS alerts for guardians.
With 16,746 accounts and over BDT 93 million in deposits, NBL aligns its services with the digital-first preferences of Gen Z and Alpha, paving the way for tech-savvy, financially empowered citizens.
NCC Bank has taken significant strides in financial literacy for students through its tailored offerings: the NCCB Youngster Account, NCCB Youngster Money Plant Scheme, and NCCB Youngster Maximus Account. These products cater to diverse financial needs, from general savings to fixed deposits and monthly savings plans, all designed with attractive interest rates and minimal entry requirements.
Through its outreach initiatives across 135 branches, NCC Bank ensures financial inclusion for young students nationwide. Nighat Mumtaz, Head of Sustainable Banking, notes: “Rural areas account for 40% of total school accounts, with females making up 52% overall—a testament to NCC’s commitment to bridging the rural-urban and gender divides.”
With 28% of Bangladesh’s population aged 0-14, NCC’s focus on this demographic is both strategic and impactful. Over the past five years, NCC Bank PLC has seen an 18% average growth in student accounts, with a total of 25,368 accounts.
Pubali Bank has been proactive in supporting students, especially through initiatives like Shikkhya Sanchay Prokalpa (SSP), which facilitates the opening of accounts for both local and international students. Mohammad Ali, Managing Director & CEO, states, “Education is the backbone of communities, and we aim to support students seeking foreign education through legitimate transactions and financial services.”
The bank also engages students and parents through campaigns and digital booths, particularly in regions like Sylhet and Gulshan. Pubali Bank’s focus on higher education supports future leaders, encouraging the development of global citizens and attracting remittances for Bangladesh’s future growth.
Prime Bank has been a key player in the school banking sector with its innovative PrimeAcademia initiative. Nazeem A. Choudhury, Deputy Managing Director, explains, “PrimeAcademia bundles multiple banking solutions for students, teachers, guardians, and institutions, simplifying fee collection, cash management, and expanding financial access.”
Prime Bank offers free student accounts like Prime Youth and Prime First with no minimum balance requirements, while also supporting students planning to study abroad with its Student File service. Through campaigns on financial literacy, the bank instills savings habits and responsible money management, especially in urban and semi-urban areas.
In 2024, Trust Bank successfully engaged 8,419 students across 79 branches through its Total School Banking Campaign. Ahsan Zaman Chowdhury, Managing Director of Trust Bank, shared, “Our school banking initiatives are aimed at building financial literacy and empowering the youth for a brighter future.”
As the lead bank in Barishal, Trust Bank organized a school banking conference, also hosting similar events in Lalmonirhat and Mymensingh in previous years. Through dedicated school banking desks, competitive interest rates, and the Trust Money app, the bank ensures students have access to digital banking services. Trust Bank offers specialized products like the Trust Student Loan for educational tools, and links student accounts to Trust Student Deposit Schemes to encourage long-term savings.
Md. Touhidul Alam Khan, Managing Director and CEO, emphasises, “Investing in youth financial literacy today builds a stronger, self-reliant generation tomorrow.”
Despite challenges in rural outreach, persistent campaigns by banks and parental involvement are bridging gaps, paving the way for a financially responsible generation in a digitizing nation.