Student savings in Bangladesh have shown signs of recovery after a decline due to high inflation and economic challenges. According to Bangladesh Bank, student deposits increased by Tk 30 crore in December 2024, reaching Tk 2,071 crore from Tk 2,041 crore in November. The number of student bank accounts also rose by 37,900, totaling 43.8 lakh. However, compared to December 2022, student savings decreased by Tk 108 crore. The decline earlier in 2023 was attributed to rising expenses, tuition payments, and a general trend of withdrawals toward the year’s end. Despite the recent uptick, overall student savings remain lower than in previous years. Banking experts suggest that restoring public trust in banks and promoting financial literacy among students could further improve savings rates. Bangladesh Bank initiated the school banking program in 2010, allowing students aged 11-17 to open accounts with a minimum deposit of Tk 100. Currently, 59 banks offer student banking services.
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