Sanchayapatra is a popular investment option in Bangladesh that has gained significant attention from investors in recent years. It is a savings instrument offered by the Bangladesh government, designed to help individuals save money for the future and grow it at the same time. The program offers an attractive interest rate, making it a great investment opportunity for those looking to secure their financial future.

The Sanchayapatra program is considered to be a safe investment option as it is backed by the Bangladesh government. It offers a guaranteed return on investment and is ideal for individuals who are looking for a low-risk investment option. The program is open to everyone, including students, housewives, and the elderly, making it an inclusive investment option.

In this article, we will discuss different types of Sanchayapatra and the process of buying Sanchayapatra in Bangladesh in 2023.

Types of Sanchayapatra in Bangladesh

Currently, the Directorate of National Savings of the government offers 11 unique investment programs. Among these programs, there are four distinct types of Sanchayapatras: 3 Monthly Interest Bearing Sanchayapatra, 5 Years Sanchayapatra, Pensioner Sanchayapatra, and Poribar Sanchayapatra.

3-Monthly Profit Bearing Sanchayapatra

This investment program, also called the "Tin Mash Ontor Munafa Vittik Sanchaypatra," requires a minimal investment amounting to Tk 1,00,000 and has a three-year maturity period. This program was first introduced in 2004.

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Price

Tk. 1,00,000, Tk. 2,00,000, Tk. 5,00,000, and Tk. 10,00,000.

Duration

Three years maturity period.

Where to Buy

Purchase and encashment can be done from National Savings Directorate, Bangladesh Bank branches, commercial banks and post offices.

Profits

Name of savings scheme	Duration	The Current rate of profit		Amount of investment
			Up to Tk. 15,00,000	Tk. 15,00,001 to Tk. 30,00,000	Tk. 30,00,001 and more
3-Monthly Interest Bearing Sanchayapatra				Rescheduled Profit Rate (%)
	After one year	10.00%	10.00	9.06	8.15
	After two years	10.50%	10.50	9.51	8.56
	After three years	11.04%	11.04	10.00	9.00

(Source: National Savings Directorate, retrieved on April 04, 2023)

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Tax

For up to Tk 5,00,000 (five lacs) investment, 5% tax is deducted at source on the profit, and for investment above five lac 10% tax is deducted at source on the profit.

Who Can Buy 3-monthly Profit Bearing Sanchayapatra?

All Bangladeshi citizens regardless of profession, or educational level
Any certified autistic cooperative institution (the profits of which must be used to benefit those with autism) approved by the District Social Services Office.

Highest Ceiling (max limit) for Buying 3-Monthly Interest Bearing Sanchayapatra

The ceiling for investment is capped at Tk 30,00,000 for individual investors and Tk 60,00,000 for joint investors.

Other Benefits

- Profit is payable quarterly.
- Nominees can be appointed.
- After the death of the purchaser, the nominee can immediately encash the savings certificate and withdraw the money or keep it and withdraw the profit, as usual, every three (3) months until maturity.

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5-Year Bangladesh Sanchayapatra

It has a five-year maturity period. The 5-year Bangladesh Sanchayapatra was first introduced in 1977. This savings program allows citizens of Bangladesh to buy Sanchayapatra under different price ranges starting from as low as Tk 10. 

Price

Tk 10; Tk 50; Tk 100; Tk 500; Tk 1,000; Tk 5,000; Tk 10,000; Tk 25,000; Tk 50,000; Tk 1,00,000; Tk 5,00,000; Tk 10,00,000 and Tk 25,00,000.

Duration

Five years maturity period.

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Where to Buy

It can be purchased and encashed from National Savings Directorate, Bangladesh Bank Branches, Scheduled Banks, and Post Offices.

Profits

Name of savings scheme	Duration	The Current rate of profit		Amount of investment
5-year Bangladesh Saving Certificate			Up to Tk. 15,00,000	Tk. 15,00,001 to Tk. 30,00,000	Tk. 30,00,001 and more
				Rescheduled Profit Rate (%)
	After one year	9.35%	9.35	8.54	7.71
	After two year	9.80%	9.80	8.95	8.08
	After three year	10.25%	10.25	9.36	8.45
	After four year	10.75%	10.75	9.82	8.86
	After five year	11.28%	11.28	10.30	9.30

 (Source: National Savings Directorate, retrieved on April 04, 2023)

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Tax

For up to Tk 5,00,000 (five lacs) investment, 5% tax is deducted at source on the profit, and for investment above five lacs, 10% tax is deducted at source on the profit.

Who Can Buy 5-year Bangladesh Sanchayapatra?

Citizens of Bangladesh from all social and professional backgrounds Entities who meet the criteria of a recognized provident fund as defined in the Income-tax Ordinance, sub-rule (2) of rule 49 of the Income-tax Rules, 1984 (Part-2), and those established under the Provident Fund Act, 1925 (No. 19 of 1925).

According to Article 34 of Part A of Income Tax Ordinance-1984, Income earned from farm projects, (including fish farms, poultry farms, production of pelleted poultry feeds, production of seeds, marketing of locally produced seeds, cattle farms, dairy and milk product farms, frog production farms, gardens sericulture farms, mushroom production, fruit, and vegetable cultivation), as certified by the concerned Deputy Commissioner of Taxation.

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Highest Ceiling (max limit) for Buying 5-Year Bangladesh Sanchayapatra

The maximum investment capacity is Tk 30,00,000 for individual investors and Tk 60,00,000 for joint investors. However, there is no limit for institutional buyers.

Other Benefits

- Nominees can be appointed.
- After the death of the purchaser, the nominee can immediately encash the Sanchayapatra and withdraw the money or keep it until maturity.

Pensioner Sanchayapatra

This plan, referred to as Pensioner Saving Certificates, contains different price ranges starting from Tk 50,000 with a five-year maturity period.

Price

Tk 50,000; Tk 1,00,000; Tk 5,00,000; Tk 10,00,000 and Tk 25,00,000.

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Duration

Five years maturity period.

Where to Buy

It can be purchased and encashed from National Savings Directorate, Bangladesh Bank Branches, Commercial Banks, and Post Offices.

Profits

Name of savings scheme	Duration	The Current rate of profit		Amount of investment
Pensioner Sanchayapatra			Up to Tk. 15,00,000	Tk. 15,00,001 to Tk. 30,00,000	Tk. 30,00,001 and more
				Rescheduled Profit Rate (%)
	After one year	9.70%	9.70	8.87	8.04
	After two year	10.15%	10.15	9.28	8.42
	After three year	10.65%	10.65	9.74	8.83
	After four year	11.20%	11.20	10.24	9.29
	After five year	11.76%	11.76	10.75	9.75

 (Source: National Savings Directorate, retrieved on April 04, 2023)

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Tax

No tax will be deducted from the source for up to Tk. 5,00,000 (five lacs) investment. But, for the investment above five lac taka, a 10% tax is deducted at source on the profit.

Who Can Buy Pensioner Sanchayapatra
 
- Retirees from government, semi-government, autonomous, and semi-autonomous institutions 
- Former justices of the Supreme Court, ex-servicemen
- Dependents (wife/ husband/ children) of deceased servicemen who are entitled to family pensions.

Highest Ceiling (max limit) for Buying Pensioner Sanchayapatra

An individual can buy a maximum of Tk 50,00,000 (fifty lacs) worth of Sanchayapatra, but not more than the amount received from gratuity and the latest Provident Fund. 

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Other Benefits

- 3-monthly profit is provided
- Nominees can be appointed
- After the death of the purchaser, the nominee can immediately encash the Sanchayapatra and withdraw the money or keep it until maturity.

Poribar Sanchayapatra

This particular savings plan, commonly referred to as "Poribar Sanchaypatra," has a duration of five years and is designed for women. This savings program was first introduced in 2009. 

Price

Tk 10,000, Tk 20,000, Tk 50,000; Tk 1,00,000; Tk 2,00,000; Tk 5,00,000; and Tk 10,00,000.

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Duration

Five years maturity period.

Where to Buy

It can be purchased and encashed from National Savings Directorate, Bangladesh Bank Branches, Commercial Banks, and Post Offices.

Profits

Name of savings scheme	Duration	The Current rate of profit		Amount of investment
Poribar Sanchayapatra			Up to Tk. 15,00,000	Tk. 15,00,001 to Tk. 30,00,000	Tk. 30,00,001 and more
				Rescheduled Profit Rate (%)
	After one year	9.50%	9.50	8.66	7.83
	After two year	10.00%	10.00	9.11	8.25
	After three year	10.50%	10.50	9.57	8.66
	After four year	11.00%	11.00	10.03	9.07
	After five year	11.52%	11.52	10.50	9.50

(Source: National Savings Directorate, retrieved on April 04, 2023)

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Tax

For up to Tk 5,00,000 (five lacs) investment, 5% tax is deducted at source on the profit, and for investment above five lacs, 10% tax is deducted at source on the profit.

Who Can Buy Poribar Sanchayapatra

- Any Bangladeshi woman aged 18 and over 
- Any Bangladeshi man or woman with physical disability 
- Any Bangladeshi citizen aged 65 and above.

Highest Ceiling (max limit) for Buying Poribar Sanchayapatra

An individual can buy Poribar Sanchayapatra worth a maximum of Tk 45,00,000 (forty-five lacs).

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Other Benefits

- Profit is payable monthly.
- Purchasers can appoint a nominee and change or remove the nominee later.
- After the death of the purchaser, the nominee can immediately encash the Sanchayapatra and withdraw the money or keep it until maturity and take profits on a monthly basis.

The Ceiling for Buying Several Sanchayapatras 

A maximum of Tk 50 lakhs in a single name or a maximum of Tk 1 crore in joint names can be invested in five-year Bangladesh Savings Certificates, 3-monthly Profit Based Sanchayapatra, and Poribar Sanchayapatra together.

Documents Needed to Buy Sanchayapatra in Bangladesh in 2023

Two copies of passport-sized photographs of the purchaser are needed to buy a Sanchayapatra. The nominee’s 2 copies of passport-size photos attested by the buyer are also needed. Additionally, a photocopy of the NID of both the buyer and the nominee, as well as a photocopy of the buyer's bank check, must also be provided.

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In the case of individual investors, it was mandatory to provide a TIN (Tax Identification Number) certificate to purchase savings bonds up to five lakh taka. But it has been removed now. But for those who will buy more than five lakh taka, new rules have been made. But in the latest circular, it is said that if an individual wants to buy more than Tk. 5 lac Sanchayapatra, he or she will have to follow some rules in addition to submitting the TIN certificate.

In case of an investment of more than five lakh taka, the investor has to provide proof of income tax return filing. The proof can be the receipt of income tax return filing; or system generated certificate containing information on the tax identification number, name, and fiscal year of the return filed, or a certificate issued by the Deputy Commissioner of Taxes containing details of tax identification number, name and financial year of the return filing of the taxpayer.

How to Buy Sanchayapatra in Bangladesh in 2023

Sanchayapatra can only be purchased in person from offices of National Savings Bureaus, post offices, Bangladesh Bank, and some designated banks. Buying it online is not currently an option. 

To purchase a Sanchayapatra, the necessary paperwork must be completed, and the required documents must be presented to the local office. This will result in two computer-generated vouchers. The first voucher can be used to pay by cash or cheque. The bank will then issue a confirmation voucher. This, along with the first voucher, must be submitted to the office to receive the Sanchayapatra. If a cheque is used, a token will be given, and the Sanchayapatra will only be released once the money has been transferred.

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Final Words

In conclusion, investing in Sanchayapatra in Bangladesh is a great way to secure a financial future. It offers a low-risk investment option with an attractive interest rate, making it a popular choice among investors. However, it is important to remember that Sanchayapatra is a long-term investment option with a maturity period of up to 5 years. Therefore, it is important to plan an investment strategy accordingly and choose the type of Sanchayapatra that best suits respective financial goals.