Here genetic variability, correlation coefficient and character association of yield and yield contributing traits of 13 local rice cultivars grown in Bangladesh were estimated. Results indicated that most traits including, plant height (PH), panicle length (PaL), leaf length (LL), leaf breath (LB), 100-grain weight (100-GW) as well as filled and unfilled grain per panicle (FGPa, UFGPa), and primary branch (PB) obtained significant variation in case of treatment. The genotypic variance (σ2g) obtained maximum for grain per panicle (2918.83) and the lowest value of σ2g was for primary branch (0.241). The highest magnitude of σ2p was 2991.18 for grain per panicle (GPa) and the lowest magnitude of σ2p was 0.2419 for leaf breadth. High heritability was observed in leaf breadth (96.959) followed by PH and 100-GW (96.867 and 95.767, respectively), and the lowest value was founded in the primary branch (80.689) and panicle length (81.709) which imply that it would be ineffective selection of those traits. PH (92.17%), flowering (90.16%), 100-GW (83.1%), maturity time (82.4%), PaL (79.2%) and spikelet no. (60.2%) was highly heritable variation. The highest value of genotypic covariance (GCV) and phenotypic covariance (PCV) were found in FGPa (2312.334 and 2377.728) followed by UFGPa (18.472 and 74.639) and PH (437.76 and 438.34) suggesting that selection of this corresponding trait would be more effective. Identified low value of GCV than the PCV, suggesting environment may play influencial role on their phenotypic expression. Correlation coefficient values of yield attributing traits reveals that the association among total grain per panicle (0.96**) and FGPa (0.95**) were positive and significant with yield.