Eastern Bank, bKash roll out digital fixed deposits via app

Eastern Bank PLC (EBL) and bKash Limited have jointly launched the country’s first digital fixed deposit receipt (FDR) service on the bKash app, marking a significant step towards greater financial inclusion.

bKash users can now instantly open an EBL FDR through the app without visiting bank branches or submitting paper documents.

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Customers can open FDRs ranging from Tk 10,000 to Tk 100,000 for six or 12 months, with an auto-renewal option. Interest will be credited directly to their bKash accounts, and digital receipts can be downloaded and saved from the app.

M Khorshed Anowar, deputy managing director and head of retail and SME banking at EBL, and Ali Ahmmed, chief commercial officer of the mobile financial service (MFS) provider, inaugurated the service at the bank’s head office in Dhaka on Wednesday, according to a press release.

Speaking at the event, Khorshed said the initiative followed the successful launch of EBL’s digital deposit pension scheme (DPS) on the bKash app.

“Now people across Bangladesh can open an EBL fixed deposit at their convenience through the bKash app,” he said.

He added that EBL would continue expanding its savings products to reach a broader customer base and promote inclusive banking.

Ali said stronger collaboration between banks and bKash is creating new opportunities to deliver accessible, innovative and customer-centric financial solutions.

“By leveraging bKash’s extensive customer base and digital infrastructure, banks can extend their services to millions with greater convenience,” he said.

He added that the partnership further advances their shared goal of developing innovative financial products that support financial inclusion and financial empowerment.

The initiative aims to make reliable savings products more accessible, particularly for people in semi-urban and rural areas, enabling them to grow their savings conveniently through digital banking.