DPS openings hit 5 million through bkash app
Customers have opened more than five million DPS (Deposit Pension Scheme) accounts through the bKash app with four commercial banks and one financial institution in just four years since the service's launch.
With a minimum deposit of Tk250, customers can start saving at any time and from anywhere, choosing weekly or monthly schemes of varying tenures from multiple institutions via a single platform.
By collaborating on digital savings services, financial institutions and bKash are expanding access to formal banking and strengthening sustainable financial inclusion. bKash introduced the DPS feature in 2021 with IDLC Finance's monthly scheme, later adding similar products from Dhaka Bank, Mutual Trust Bank, City Bank, and BRAC Bank. Weekly DPS options were introduced in early 2024, and Shariah-compliant schemes from two banks are also available.
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Around 30% of DPS accounts opened through the app belong to women, and 80% of customers live outside major cities such as Dhaka and Chattogram. Users from all sixty-four districts have opened DPS accounts on the platform, demonstrating how digital innovation can bring essential financial services to unbanked and underbanked communities.
About 55% of all DPS accounts were opened outside regular banking hours, while a survey shows that 96% of customers whose DPS accounts have matured intend to open new ones through the app.
Depending on the institution and DPS type, customers can save between Tk250 and Tk20,000 for six months to four years. By tapping the "Savings" icon in the bKash app, users can open a DPS, monitor deposits and accumulated profits, and receive the matured amount without any cash-out charge.
