Recurring Deposit Account is a flexi product for those individual customer who prefers to save money periodically from their monthly saving for defined period of time.
All Nepalese individual customer including minors are eligible to open this account.
Yes, existing account holders can easily open Recurring Deposit account. Whereas for new customers, they must have to open saving account first to enjoy the Recurring Deposit account.
NPR 500 thereafter customer can deposit any amount above NPR 500 each month.
The minimum period of deposit is 3 months and the maximum period is 5 years.
Yes, customer need to fill up an additional form to provide certain detailed information regarding monthly installment, tenure and debit date. (Can be done in Fixed deposit form).
Yes, customer can choose their own debit date as per their convenient.
No any charges shall be applied while placing Standing Instruction to open this account for monthly transfer from saving account to recurring account of account holders.
Penal charges shall not be applicable for default of monthly installment.
The monthly installment amount once fixed can be changed at any later date. (Only once a month is allowed to deposit.)