SARAH BINTAY SHAKHAWAT

Long gone are the days when making a deposit meant queuing up at a branch, filling forms, and waiting for manual verification. Today, deposits have moved to the digital realm accessible with a few taps on mobile apps, available 24/7, and tailored to customer needs. Bangladesh’s banking sector is undergoing a silent revolution where deposit innovations are redefining how people save, invest, and grow their money.

In Q1 2025, total deposits in Bangladesh stood at BDT 19.24 trillion, reflecting a 9.51% year-on-year growth. This growth is not just a result of economic resilience but also of the digital innovations in deposit products that are attracting more customers with ease of access, personalised schemes, and improved security.

Digital Deposit Schemes

NCC Bank is among the banks leading this change. Along with traditional deposit plans like Deposit Plus, Kotipoti, and Parama Super Saver, it is investing heavily in digital delivery. “Digital transformation is no longer optional; it’s imperative,” said M. Shamsul Arefin, Managing Director of NCC Bank. “We are reshaping customer journeys through AI-driven data analytics, automation, and platforms like our ‘NCC Always’ internet banking, which provides 24/7 access to savings accounts, deposits, and fund transfers.”

The bank is also introducing digital schemes for senior citizens, students, and low-income groups, ensuring greater financial inclusion. “Our deposit growth in 2024 was three times higher than 2023, a reflection of our customers’ trust in convenient and transparent digital solutions,” Mr. Arefin added.

Digital-Only Deposits

Midland Bank PLC is taking deposit innovation a step further with fully online products. Through its ‘midland online’ platform, customers can open Digital FDRs or Family Support Schemes and receive an additional 0.25% profit for using online channels.

“Innovation is central to how we build trust and empower customers,” said Md. Ahsan-uz Zaman, Managing Director & CEO of Midland Bank. “From card-less cash withdrawals to automated tax certificate submissions, our depositors enjoy features that make banking seamless. We’re also incentivising digital deposits with cashback and rewards.”

The bank’s virtual cash management platform also simplifies corporate deposit flows, reducing the need for cheques or physical branch visits.

Micro-Savings and Nano Banking

A large portion of Bangladesh’s population remains unbanked, and