bKash Boosts Digital Deposits as DPS Accounts Cross Five Million

In just four years since the service was launched, customers have opened more than five million DPS (Deposit Pension Scheme) accounts with four commercial banks and one financial institution through the bKash app. This information was shared by bKash authorities on Tuesday, 18 November.

According to sources, 30 percent of all DPS accounts opened via the bKash app belong to women. Meanwhile, 80 percent of DPS customers live outside major cities such as Dhaka and Chattogram. Depending on the institution and the type of DPS (weekly or monthly), customers can deposit between Tk 250 and Tk 20,000 for a tenure ranging from six months to four years.

Statistics show that customers from all 64 districts of the country have opened DPS accounts through bKash. This demonstrates that, through technological innovation, essential financial services are now accessible to people in every corner of Bangladesh, including those previously excluded from formal financial systems.

Additionally, 55 percent of all DPS accounts were opened outside regular banking hours, indicating that customers prefer the convenience of saving at a time that suits them. A survey further revealed that 96 percent of customers whose DPS has already matured expressed interest in opening a new DPS through the bKash app.

bKash began its digital savings journey in 2021 with IDLC Finance’s monthly DPS service. Over time, Dhaka Bank, Mutual Trust Bank, The City Bank, and BRAC Bank have joined the platform. Alongside monthly DPS options, bKash introduced weekly DPS services in the first half of 2024. For customers who prefer Islamic Shariah-compliant savings, Islamic DPS services are offered through two banks.

DPS/IK/OR