The number of these accounts also rose to 71,346 last year from 62,710 in 2019.
The Daily Star talked to a number of bankers, tax officials and analysts, who pointed out that there is a strong link between the deposit growth and the opportunity given to whiten black money.
They also referred to the reduced scope for laundering money abroad amid the Covid-19 pandemic and also cap on investment in national savings certificates.
In the current fiscal year, the government gave the opportunity to whiten black money by declaring undisclosed wealth and income in tax returns upon payment of only 10 percent tax on the undisclosed amount without any questions about the sources of income.