Centre for Development Innovation and Practices - CDIP

Centre for Development Innovation and Practices-CDIP is a microfinance institution in Bangladesh dedicated to empowering underserved communities. Through financial inclusion, CDIP offers micro-loans, savings, and other innovative services, focusing on improving livelihoods and driving sustainable development. With a strong network of 226 branches across 30 districts, CDIP supports thousands of borrowers in their journey toward economic independence, fostering financial literacy and client satisfaction.

Monthly Benefit Scheme or Dividend Payment Rules:

1. Term of the Monthly Benefit Scheme will be 3 years or 5 years.
2. Beneficiary can open a savings account on any date; withdrawal can be made within 7 working days after a full month from the opening date.
3. If beneficiary applies for monthly profit scheme withdrawal application form before the term ends, they will receive a dividend according to the schedule.

Profit Calculation Table for the 3-year and 5-year Term

Maturity Period	Duration (in months)	Initial Deposit Amount	Interest Rate	Payable Profit Amount (Monthly)
Completion of 5 years	60	1,00,000	12.00%	1,000
Incompletion of 5 years	48-59	1,00,000	11.40%	950
Incompletion of 4 years	36-47	1,00,000	10.80%	900
Incompletion of 3 years	24-35	1,00,000	10.20%	850
Incompletion of 2 years	12-23	1,00,000	9.60%	800
Incompletion of 1 year	0-11	1,00,000	0.00%	-

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Frequently Asked Questions (FAQs)

1. What is the Double Benefit Scheme?

The Double Benefit Scheme is a savings program where your deposit amount doubles after 7.5 years. For example, if you deposit BDT 100,000, you will receive BDT 200,000 at the end of the term.

2. What happens if I withdraw from the Double Benefit Scheme before maturity?

If you withdraw before the full 7.5 years, your payable profit will be calculated based on how long you kept the deposit. The profit decreases slightly for earlier withdrawals, as outlined in the profit calculation table.

3. What is the interest rate for the Double Benefit Scheme?

If the scheme reaches maturity (7.5 years), the interest rate applied is 13.33%. If withdrawn earlier, the interest rate reduces incrementally based on the duration, starting from 9.50% for 1.5 years.

4. What is the Monthly Benefit Scheme?

The Monthly Benefit Scheme allows you to earn a monthly profit based on your deposit. You can choose a term of either 3 years or 5 years.

5. When can I withdraw the profits from the Monthly Benefit Scheme?

Withdrawals can be made within 7 working days after a full month from the account opening date.

6. What happens if I withdraw from the Monthly Benefit Scheme before the term ends?

If you apply for withdrawal before completing the full term, your monthly profit will be calculated according to the schedule, which decreases based on the remaining time.

7. What is the interest rate for the Monthly Benefit Scheme?

The interest rate for the 5-year term is 12.00%, yielding a monthly profit of BDT 1,000 on a BDT 100,000 deposit. The rate decreases slightly if the term is not completed.

8. Can I cancel my savings account at any time?

Yes, but your profits will be calculated based on the duration for which the funds were kept in the account.

9. What happens if I don't complete the full term of the Monthly Benefit Scheme?

If you withdraw before the completion of 1 year, no profit will be paid. For terms over 1 year, profits will be paid according to the duration as listed in the table provided in your savings plan document.

10. How can I apply for early withdrawal?

To withdraw your savings or monthly profits, you need to fill out a withdrawal application form. The application must be submitted before the term ends.