Before opening a bank account for business purposes in Bangladesh, consider three things: which account type you need, which documents your business type must provide, and which tax rules apply. Most businesses open a current account in the business name at a scheduled bank. A sole proprietor needs a valid trade licence, NID, photos, a TIN certificate, and a filled-in KYC form. Partnerships add a partnership deed and a resolution naming the signatories. Private limited companies add RJSC incorporation documents and a board resolution. Opening deposits at many banks start at about Tk 1,000, and current account maintenance fees are capped at Tk 300 every six months.
This guide covers which account to choose, the documents for each business type, the tax rules that apply, what the account costs in 2026, and how to pick a bank if you run a transport business.
Why open a separate business account
A business account keeps business funds separate from personal funds. That makes it easier to see what the business earns and spends, to file tax returns and to answer questions from the tax office.
It also builds a record that lenders look at. LankaBangla Finance, for example, lists bank statements as mandatory for its Durbar commercial vehicle loan, alongside a trade licence, NID and e-TIN. A truck owner who plans to buy a new or used truck on credit needs several months of business transactions to show.
Corporate clients often pay suppliers by bank transfer, too, and an account in the business name gives them an account that matches your invoices.
An account does not change your legal liability. A sole proprietor is still personally responsible for business debts; only forming a company changes that.
Which account should a business open?
| Account | Interest | Cheque book | Best for |
|---|---|---|---|
| Current account | None | Yes | Day-to-day payments, receiving client transfers, paying drivers and suppliers |
| SND (short notice deposit) account | Low, about 2.5% at some banks | Yes | Larger balances that move less often |
| Fixed deposit | Higher, fixed term | No | Money you will not need for months |
Most businesses start with a current account, which has no limit on withdrawals. An SND account works like a current account that pays a little interest; NRB Bank paid 2.50% on SND balances below Tk 1 crore from 7 June 2026, according to its published rate sheet. SND accounts usually carry a higher maintenance fee, so they suit larger balances.
Very small traders without a trade licence have another option. Since September 2022, Bangladesh Bank has let micro and small traders open a Personal Retail Account using their NID, e-KYC and proof of their trade from a local representative or business association, as UNB reported. It works like a current account but has monthly transaction and balance limits.
Documents you need by business type
Banks follow Bangladesh Bank’s KYC rules, but each bank sets its own checklist, so ask your branch for its list before you go. The table below is based on published bank checklists, including NRB Bank’s.
| Document | Sole proprietorship | Partnership | Private limited company |
|---|---|---|---|
| Account opening form, KYC and transaction profile | Yes | Yes | Yes |
| Valid trade licence | Yes | Yes | Yes |
| NID and photos of each signatory | Proprietor | Each partner | Each signatory and director |
| TIN certificate | Proprietor | Firm and partners | Company, often directors too |
| Partnership deed (registered or notarised) | No | Yes | No |
| Resolution naming who can sign | No | Yes | Board resolution |
| Certificate of incorporation, MoA and AoA, certified by RJSC | No | No | Yes |
| List of directors (Form XII) | No | No | Yes |
| Proof of business address | Often | Yes | Yes |
For companies, banks also ask for details of anyone who owns 20% or more of the shares, so they can identify the real owners. Some banks ask for the latest annual return filed with the RJSC.
You no longer need an introducer if you have a valid NID; Bangladesh Bank dropped that requirement in February 2020, as The Daily Star reported. Some banks still ask for photos attested by an existing account holder, so check.
Tax rules: TIN, return proof and BIN
Banks ask for a TIN certificate for most business accounts, and you need a TIN to get a new trade licence anyway. You can register for an e-TIN free on the NBR e-TIN portal.
Proof of submission of an income tax return (PSR) is a separate requirement. Under the Income Tax Act, you need it to open or keep an account with a balance above Tk 10 lakh and to take a loan above Tk 20 lakh, as The Daily Star reported in June 2025. Eastern Bank notes that extra tax is deducted from interest if the proof is not submitted. If your business expects to hold more than Tk 10 lakh, file a return before you open the account or before the balance crosses that line.
The Finance Act 2026 also links VAT registration to banking. PwC’s summary of the Act says a BIN or VAT enlistment certificate is now required to open bank accounts and take loans. Ask your bank whether this applies to your account type before you apply.
How to open a business bank account, step by step
- Choose the bank and branch. A branch near where you work saves time, since you will visit it to deposit cash and collect a cheque book.
- Ask the branch for its document checklist and account forms, or download them from the bank’s website.
- Collect the documents: trade licence, NID copies, photos, TIN certificate, and the deed, resolution or RJSC papers your business type needs.
- Fill in the account opening form, the KYC profile and the transaction profile. The transaction profile asks how much money you expect to move each month. Give a realistic figure, because the bank compares it with your actual transactions.
- Submit everything at the branch, with the originals for checking. The signatories sign the specimen signature card.
- Make the opening deposit. At many banks it starts at Tk 1,000 for an SME current account.
- Collect the cheque book and debit card, and ask for internet banking so you can send and receive transfers without visiting the branch.
Banks open individual accounts online through e-KYC, but most still open business current accounts at a branch. Bangladesh Bank issued new e-KYC guidelines on 11 March 2026, so more online options may follow.
Fees and minimum balances in 2026
Bangladesh Bank caps the maintenance fee on a current account at Tk 300 every six months, and banks may not charge savings accounts with balances up to Tk 10,000, as TBS reported when the caps were set. Banks’ 2025 and 2026 fee schedules still use these amounts. SND accounts at several banks cost Tk 500 every six months. VAT of 15% is added to bank fees.
| Item | Typical charge | Example source |
|---|---|---|
| Opening deposit, SME current account | From Tk 1,000 | BRAC Bank SME schedule |
| Current account maintenance | Up to Tk 300 every six months | Prime Bank, September 2025 |
| SND account maintenance | Tk 500 every six months | Premier Bank, 2026 |
| Cheque book | About Tk 250 to Tk 345 | BRAC Bank, Prime Bank |
| Debit card | About Tk 500 to Tk 600 a year | Premier Bank, Prime Bank |
| Internet banking | Free at several banks | Prime Bank, EBL |
Some banks waive the maintenance fee if you keep a set average balance. BRAC Bank’s Shadhin SME account, for example, waives it at a Tk 25,000 average.
The government also charges an annual excise duty on bank balances. For 2025, balances up to Tk 3 lakh paid nothing, Tk 3 lakh to Tk 5 lakh paid Tk 150, and Tk 5 lakh to Tk 10 lakh paid Tk 500, with higher amounts for larger balances, as Prothom Alo reported. The duty is based on the highest balance at any point in the year. The 2026-27 budget proposed raising the duty-free limit to Tk 4 lakh, according to The Daily Star.
How to choose a bank
Start with the branch and ATM network where you and your drivers work. A trucking business that collects fares in several districts needs branches or agent outlets on its routes.
Check the digital services. Interbank transfers by BEFTN are free, NPSB costs up to Tk 10 and RTGS up to Tk 100, TBS reported in April 2026. Since 30 June 2026, merchant payment QR codes from banks and mobile financial services such as bKash must use the common Bangla QR standard, according to a Bangladesh Bank directive reported by TBS. A bank whose app links easily to bKash or Nagad makes collecting small payments simpler.
Look at what you may need later: SME loans, vehicle finance and overdrafts. Average lending rates were 11.96% in April 2026, and several banks said their SME loans were priced at up to 14% or 15%, Prothom Alo reported. Small businesses can also borrow at up to 7% under Bangladesh Bank’s CMSME refinance scheme through participating banks, according to UNB.
Finally, consider the bank’s health. Deposits are protected up to Tk 2 lakh per depositor under the Deposit Protection Ordinance 2025, as UNB reported. Five weak Islamic banks were merged into the state-owned Sammilito Islami Bank in late 2025. A business that keeps large balances should choose a financially sound bank and avoid keeping all its money in one place.
Tips for transport businesses
A trucking business in Bangladesh gets paid in many ways: cash from drivers, bKash from small shippers and bank transfers from companies. Deposit the cash takings regularly, so the account shows the business’s real income. That record helps when you apply for a loan to buy another truck.
If you work with corporate shippers, give them an account in the business name that matches the name on your trade licence and invoices. Companies that ship regularly through Truck Lagbe for Business expect the same.
Keep the vehicle papers and each driver’s licence up to date too, because lenders and corporate clients often check them along with your bank record. Anyone driving a covered van or large truck needs a heavy driving licence, not a light one.
Common mistakes that delay opening
- The business name or owner’s name differs between the trade licence, TIN certificate and NID.
- The trade licence has expired or is due for renewal.
- A partnership deed is unsigned or not notarised.
- A company brings no board resolution, or the resolution does not name the signatories.
- The transaction profile is far below what the business actually moves, which leads to questions later.
- The balance crosses Tk 10 lakh before the business has filed a tax return.
Grow your truck business with Truck Lagbe
Once your business account is set up, you can find more trips for your trucks. Truck owners can register on the Truck Lagbe Owner app with their NID and driving licence, then bid on trips posted by verified shippers. Download the app to get started.
Frequently asked questions
Can I open a business bank account without a trade licence?
Most banks require a valid trade licence for a business account. Micro and small traders without one can open a Personal Retail Account with their NID, e-KYC and proof of their trade.
Do I need a TIN to open a business account?
Most banks ask for a TIN certificate, and you need a TIN to get a new trade licence. You also need proof of a filed tax return once the balance is above Tk 10 lakh.
How much money do I need to open a business account?
Opening deposits for SME current accounts start at about Tk 1,000 at many banks. Check the bank’s schedule of charges for its minimum.
What is the difference between a current account and an SND account?
A current account pays no interest but has no withdrawal limit. An SND account also comes with a cheque book and pays a little interest, but usually has a higher maintenance fee.
Can a sole proprietor open an account in the business name?
Yes. A sole proprietorship account can carry the business name shown on the trade licence, with the proprietor as signatory.
Can I open a business bank account online in Bangladesh?
Individual accounts can be opened online through e-KYC, but most banks still open business current accounts at a branch. Ask your bank whether it offers online opening for your business type.
