BRAC Bank has introduced the TARA Homemakers Savings Account, a dedicated banking product designed exclusively for women outside the formal workforce as stated in the press release.
The account removes the need for income documentation, allowing women without formal income proof to open a bank account using a simple self-declaration– no salary slips, employment letters or supporting documents required. By eliminating this long-standing barrier, the bank makes formal financial services more accessible to millions of Bangladeshi homemakers.
This inclusion recognises the critical role homemakers play in managing household finances, despite often being overlooked by the formal banking system. Tailored to their everyday needs, the account offers a host of benefits, including waived debit card fees, monthly grocery cashback, and interest earned on any balance.
BRAC Bank aims to bridge the gap between financial services and women’s autonomy through a solution grounded in the lived realities of homemakers. Available through digital channels and the bank’s nationwide branch network, the account positions homemakers not as dependents, but as independent financial actors capable of managing their own finances.
To ensure the product reaches the intended segment, it is targeted at low to moderate-income households. Eligibility requires a monthly income below BDT 200,000, an initial deposit under BDT 500,000, and total deposits in any six-month period not exceeding BDT 12,00,000.
Md. Mahiul Islam, Deputy Managing Director and Head of Retail Banking, BRAC Bank, said, “We are proud to introduce a savings account designed exclusively for homemakers with benefits tailored to their financial needs. This product is a recognition of invisible labour and a step towards meaningful inclusion. With this launch, TARA is reaching those who have long remained outside the banking system.”
The rollout follows an extensive internal training programme, equipping over 2,500 frontline employees of the bank nationwide to support account opening and provide guidance throughout the onboarding process. This preparation ensures a seamless customer experience while enhancing operational efficiency, making it viable to serve previously unbanked women at scale.
Offered under BRAC Bank’s women banking segment, TARA, the account strengthens the bank’s commitment to inclusive innovation. With homemakers now in focus, BRAC Bank expands the scope of financial inclusion in Bangladesh.
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