• Recurring Deposit (RD) account is a combination of fixed deposit and saving product for those individual customers who prefers to save money periodically from their monthly saving for defined period of time.

  1.      Features:

  1.      New/Existing account holders can open RD account. Whereas for new customers, they must have to open saving account first to enjoy RD account.

  2.      The minimum period of deposit is 3 months and maximum is 10 years. However for minor, the maximum period of deposit shall be until the minor turn to major.

  3.      Account holder should provide detailed information regarding monthly installment, tenure and debit authority in Account opening form.

  4.      Standing Instruction (SI) can be put on the account for monthly transfer of amount from saving account to recurring deposit account of account holders.

  5.      Monthly installment amounts once fixed cannot be altered at any later date.

  6.      Account holders are not allowed for mid-term or partial withdrawal.

  7.      Premature withdrawal is not encouraged. But is death case/special cases, the premature withdrawal applicable rate shall be same as in case of premature of FD.

  8.      Account holders may borrow up to 90% of total accumulated amount with additional 2% or base rate whichever is higher.

  9.      No any penal charges for default of monthly installment.

  10.  The minimum or eligible amount of installment is NPR 500 and thereafter in multiple of NPR 500 per month.

  11.  Interest payment frequency: Quarterly on daily closing balance

  2.      Eligibility:

  1.      All Nepalese individual customers including minors are eligible to open this account.

  2.      Customer should have maintained saving account

  3.      Documentation

  1.      Authorized application for Recurring Deposit.

           Interest Rate: Please Click here

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