Lumbini Sahayatra Muddhati Khata

Introduction

This Product Paper states and defines process/procedures related to “Lumbini Sahayatra Muddhati Khata”.

“Lumbini Sahayatra Muddhati Khata” is a fixed nature product which primarily targets to individual depositors. This product has been designed to encourage individuals to deposit money on a high interest paying account. This helps bank to enhance individual deposit by offering attractive interest rate in a fixed deposit account.

This product targets all type of individuals.

Type of Product

Fixed Deposit Account

Purpose of the Deposit

  • Increase our individual deposit portfolio.
  • Reduce concentration on corporate and call deposit (comparatively volatile in nature).
  • Provide deposit product with simple and easy features to the ordinary individual deposit customers.
  • To attract and accumulate sustainable deposits from individuals.
  • Cross Selling of other products.

Eligibility/Target Group

  • All Individuals. 

Pricing/Amount/Features

  • Minimum Balance NPR.100,000.00
  • Minimum 1 Year FD
  • Interest Rate: As per timely Interest Published by the Bank (Click Here)
  • Interest payable Monthly/ Quarterly.
  • Tax on interest shall be levied as per prevailing Income Tax Act.

Benefits to the customers:

Account holders of Lumbini Sahayatra Muddhati Khata will be benefited by Medical Insurance and Accidental Insurance along with other banking facilities. Medical Insurance covers hospitalization charges of account holder only within the limit. Similarly, accidental insurance covers insurance of account holder’s accidental Death & Permanent disablement only. The details are as follows:

  1. Insurance Coverage

  • Medical Insurance

Medical Insurance Limit Details

Remarks

S.No.

Deposit (Fixed Deposit)

Medical Insurance Limit

 

Medical Insurance covers insurance for Hospitalization only of account holder as per limit.

1

1 Lakhs to 5 Lakhs

50,000/-

2

Above 5 Lakhs  

100,000/-

  • Accidental Insurance

Accidental Insurance Limit Details

Remarks

S.No.

Deposit (Fixed Deposit)

Accidental Insurance Limit

 

Accidental Insurance covers insurance of account holder only as per limit.

1

1 Lakhs to 5 Lakhs

500,000/-

2

Above 5 Lakhs  

1,000,000/-

 B. Other Facilities:-

  • Free ABBS Facility for nominee account
  • Free On-Demand Account Statement for nominee account
  • Free Cheque Book for nominee account
  • Free Mobile Banking Facility for nominee account
  • Free issuance of VISA Debit Card for nominee account.
  • 50% discount in locker facility charge of Nominee Account.

Documentation

  • Account opening form along with KYC.
  • Other legal documents- Citizenship Certificate, self-declaration from customer stating not having any other saving account, 2 pieces of passport size photographs
  • As per Operation Manual/KYC& AML Policy/ NRB Directives.