Wage Earner Development Bond (WEDB) is a product designed by Bangladesh Central bank for Bangladeshi national living abroad. The objective of this product is to encourage the NRBs to invest their hard earned money to purchase WEDB on which the government guarantees a fixed interest rate.
- Tax exemption on the principal and interest amount.
- Loan Facility on the bonds in Bangladesh
- No maximum limit on bond purchase.
- Death risk benefit up to 30% to 50% of investment.
- Interest payable every six months in BD
- Can be used as security for any loan
- Purchaser of Wage Earner's Development Bond can repatriate the principal amount of the bond in foreign currency.
A Bangladeshi wage-earner serving abroad
- in his own name ; or
- in the name of any other person named in his application;
Government employees working abroad.
- The purchaser must have a FC account with the Bank
- The purchaser must have the photocopy of the relevant pages of the passport where the purchaser's name, date of birth, date and place of issue; expiry date, photograph and signature appear.
- Address Proof of the Bond Holder in abroad.
- 2 Copy of passport size photographs of the Applicant& 1copy for the Nominee with the signature of the Applicant on the back.
- Valid work permit /proof of employment of the Applicant abroad