1.  Introduction

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.

2.     Eligibility:

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

3.     Minimum balance and Interest Rate:

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

2.     Interest rate shall be applicable as determined by ALCO committee of the bank from time to time.

3.     Interest payment frequency : Quarterly on daily closing balance

4.     Documentation

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

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