This product paper states and defines process/procedures relating to Akshaya Kosh. Organization and individual who are involving in social service and helping in betterment of society have a need of perpetual deposit account which assist them in earning high rate of return. Feeling the need of customers, SRDBL has designed the product with following features:

1.         Features:

1.      It is just like fixed deposit where deposited amount cannot be withdrawn except in case of dissolution of fund itself. But Fixed Deposit tenure shall be as per the fund management committee decision. 

2.      To be entered into through the standard contract with Fund Management Committee.

3.      Separate call/saving account to be maintained to provide the interest quarterly.

4.      No cheque book shall be issued in this account.

5.      Based on the Bidhan / Biniyam of the ‘Cosh’, additional amount in multiple of 1000.00 can be increased on Akshyakosh account. 

6.      Interest payment frequency: Quarterly on daily closing balance

2.         Eligibility:

1.      Should be approved organization from Government of Nepal.

2.      Group of individuals whose objective is to open an account for social cause.

3.      Should have documented policy / guideline / decision about the fund management or fund operating procedure. 

4.      Customer should have Current / Saving account in our bank.

3.      Documentation

·         As per Operation Policy/AML& CFT policy/NRB Directives.

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