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The government has increased the exemption limit for excise duty on bank account deposits to Tk4 lakh, providing relief to small depositors.
Previously, bank account holders were required to pay annual excise duty if their account balance reached Tk3 lakh. Under the new provision, no excise duty will be charged if the balance remains below Tk4 lakh, according to the budget announcement made by Finance Minister Amir Khosru Mahmud Chowdhury.
Under the revised rules, excise duty will be applied once a year if the account balance exceeds the specified threshold at any point during the year. Banks typically deduct this charge from customer accounts in December.
The new provision also clarifies that excise duty will be applied only once per loan account, reducing multiple deductions on the same borrowing arrangement.
Excise duty is an indirect tax imposed by the government on specific financial activities and services, including bank deposits that exceed certain limits.
According to the new rule, if a bank account holds Tk4 lakh or more at any point in 2026, excise duty will be applicable for that year.
Otherwise, account holders below the threshold will remain exempt.
