10 Best Banks for Students in Bangladesh (Ranking of 2023)
Financial independence and autonomy are a big part of survival in this day and age. This is more true for students, who are currently pursuing education in order to utilize their knowledge to sustain their livelihoods. Financial institutions like banks ensure the utmost security and accessibility of one’s finances.
Today a new type of banking known as student banking dominates the banking scene, catering heavily to aid students in meeting their financial needs.
Let’s get started with the latest list of best banks for students in Bangladesh.
1. The City bank Limited
Operating since 1983, City bank is one of the most prominent private banks in Bangladesh. Among the vast array of banking services that the bank provides, student banking is one of their most popular and sought-after services.
Their Students Savings Account caters services to both school goers and college goers. Their amenities with this account include:
- No Account Maintenance Fee
- No Minimum Balance requirement
- Annual Fee of Debit Card is waived for the first year
- Free Passport Endorsement
- Interest rate of 2% on school goers savings account and 1.75% on college goers savings account
And more
2. Modhumoti Bank Limited
Established in 2013, Modhumoti Bank has experienced a rapid surge in popularity and prominence throughout the years. Among the money services that the bank provides, their student services are of immense popularity.
Their ‘MODHUMOTI পাঠশালা SCHOOL BANKING ACCOUNT’ offers amenities such as:
- A Personalized cheque book will be issued to the Guardian in the name of a minor.
- An attractive “ATM Debit Card” with a minor’s name imprinted on it with the opening of a MODHUMOTI পাঠশালা School Banking Account which is absolutely free.
- No service charge except Govt. excise duty.
3. AB Bank Limited
Established in 1982, AB Bank is considered to be one of the most reliable banks in Bangladesh. The bank is known for offering several types of bank accounts to its numerous customers of various categories.
AB bank’s student banking services is one of the most in-demand student banking accounts in Bangladesh.
The student banking account offers:
- 3.25% interest rate
- No account maintenance fees are required
- Free SMS banking & internet banking
- Free-standing instruction
- Free Cheque book
- Free Real-Time Mobile Top-up* (GP, Banglalink, Citycell, Airtel, Robi, Teletalk)
4. One Bank Ltd.
Active since 1999, One Bank is one of the most prestigious banks in Bangladesh. The bank offers its student banking service known as OBL Youth Banking, which is very popular among students. The offers entailed by their student account entail:
- Attractive Interest Rate
- Interest Rate is 5%p.a. on the daily balance and will be credited monthly
- Zero Account Maintenance Fee
- Debit Card Charge: BDT 200/- only (new issue and renewal)
- Special discount on OBL Student Loan Processing fee: 50% Discount on Loan processing fees
- 20% discount on student file handling charge
- Free Internet Banking
- Discounts in different outlets/restaurants etc. using the debit card
5. Eastern Bank Ltd
Founded in 1992, Eastern bank is one of the most reputed and respected banks in Bangladesh. Among the many services that the bank offers, its student bank services known as EBL Student Banking is one of the best in the country.
It has numerous categories of student bank categories to cater to different consumer needs, which includes ‘EBL Junior Savings Account’ for under 18 school goers, ‘EBL Campus Account’ for students over 18 to 28 years old, ‘EBL Student File Services’ for students going abroad for higher studies, and ‘ EBL Child Future Plan’, and ‘EBL Aspire Scheme’ for future planning of children.
Additionally, the bank also offers free account maintenance, a healthy interest rate to ratio, debit card facilities, etc.
6. NRB Bank Ltd.
Operational since 2013, NRB Bank has quickly gained trust and popularity amongst its customers. One of their important banking services includes offering student banking services. NRB Bank’s Student Bank Account offers:
- Free cheque book facility
- No minimum balance fee
- No account maintenance fee
- Student banking option for under 18 students known as ’Early Account’
And more
7. Prime Bank Limited
Established in 1995, Prime Bank is one of the most recognized and reputed banks in Bangladesh. The bank is renowned for its student banking services and conducts them through its My First Account, a consumer banking product. This line of banking offers:
- No Fees and Charges are applicable for “My First Account” (except Government fees as applicable by the central bank from time to time).
- Free Debit card for the student.
- Free Internet Banking (Altitude-operated by a guardian)
- Minimum BDT 100/- will be required to open this account.
- No ending balance requirement is applicable.
And more
8. Mutual Trust bank Limited
Founded in 1999, Mutual Trust Bank is one of the most popular and well-reputed banks in Bangladesh that is widely used. The bank’s student banking services hold significant prominence and are offered through their MTB Graduate Banking for students over the age of 18 and MTB Junior Banking for students below the age of 18.
The amenities offered by their student banking services include:
- Free Life Insurance Coverage with COVID-19 Coverage
- Paying Parent can additionally avail Insurance Coverage as an Opt-in basis
- Attractive interest rate
- Discount for Lifestyle Benefits
- Debit Card Facility
- Free Internet Banking
- No account maintenance fee
- No minimum balance fee
And more
9. Midland Bank Ltd
Since 2013, Midland bank has rapidly grown to dominate the banking sector of Bangladesh. It offers phenomenal student banking services through its MDB School Saver and MDB College Saver, student banking services. The amenities offered by their student accounts include:
- Interest calculated on daily balance
- Interest is credited to the account on a half-yearly basis
- No debit card Fee
- Waiver of account maintenance fee
10. Trust Bank Limited
Founded in 1999 and backed by the Army Welfare Trust of Bangladesh Army, Trust Bank holds a significant reputation and prominence amongst the banks in Bangladesh and is also considered to be one of the best banks in the country.
They offer student services through their retail banking programs ‘Trust Porua’, for students under the age of 18 years and ‘Trust Shohopathi’ for students over the age of 18 to 30. The amenities offered by their student services include:
- Minimum Opening Balance TK. 500/-
- No maintenance or minimum balance fee
- Free internet banking, SMS, phone banking
- Special discount facilities
- No account closing fee applicable
And more.
Student banks are essential for culminating healthy financial behaviors from a very young age. It not only helps students to save and deposit their money but also accustoms them to the financial environment and engages them towards greater financial inclusion.