The ferry was heading to Paturia from Daulatdia in Rajbari when it was hit by a cargo trawler, a senior police official of Manikganj district said.
The site is 40 kilometres northwest from here.
Bidhan Tripura Manikganj police chief said a total of 11 bodies have been retrieved so far, of whom four were women, six men and one child.
Besides them, a six-month-old girl rescued from the Padma river in which the ferry sank was later declared dead at the hospital.
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A survivor said his wife and mother-in-law are still missing.
Another survivor, who was near the edge of the ferry before it sank, said the people in the cabin did not get a chance to escape.
Most of the passengers were rescued by nearby boats and a joint salvage operation by naval authorities, including the Bangladesh Inland Water Transport Authority (BIWTA), is still underway.
The master of the cargo vehicle Nargis-1 and his assistant was detained on the charges of hitting the ferry. Their cargo trawler was also seized.
On February 13, at least five persons, including a minor, were killed when an overloaded ferry carrying 200 passengers, mostly devotees, capsized in the Paira river.
Last month, rescuers recovered eight bodies from a fishing boat that capsized in the Bay of Bengal off the Bangladesh coast carrying migrants to Malaysia.
Last August, another ferry sank in a river in Bangladesh, killing about 130 people.