Eastern Bank brings DPS service to bKash platform

Eastern Bank PLC (EBL), which launched its monthly deposit pension scheme (DPS) service, has made it available through the bKash app.

With the move, the bank has joined the digital savings platform alongside four other banks and one financial institution, according to a press release.

bKash Limited, the country’s leading mobile financial service provider, integrated DPS services from multiple financial institutions into its platform to promote sustainable financial inclusion and expand access to savings products.

More than 6 million DPS accounts have already been opened through the bKash app, reflecting growing public confidence in digital savings services.

EBL, the latest bank to join the platform, is offering DPS deposits ranging from Tk 500 to Tk 20,000 per month for tenures between six months and four years.

To open a DPS account, users need to tap the “Savings” icon on the bKash app home screen and select “Open New Savings”. Customers can then choose “General Savings”, select a tenure and monthly deposit amount, and pick Eastern Bank from the list of participating institutions.

After providing nominee details and agreeing to the terms and conditions, customers can complete the process by entering their bKash PIN. Confirmation messages are sent by both bKash and the bank once the application is completed. Users can open multiple savings schemes from a single bKash account.

M Khorshed Anowar, deputy managing director and head of retail and SME banking at EBL, said the initiative marked an important step towards making savings services faster, more accessible and inclusive across Bangladesh.

“Through this joint initiative, customers will be able to open EBL DPS easily, quickly and seamlessly from the bKash app,” he said.

Ali Ahmmed, chief commercial officer of bKash Limited, said deeper collaboration between bKash and financial institutions was helping expand access to finance for both unbanked and underbanked populations.

He added that entrepreneurs, salaried employees, farmers, homemakers, students and people from marginalised communities were increasingly using the platform due to its easy and paperless process.