Nepal Investment Bank Ltd. has, marking its 36th anniversary, launched “NIBL Gajjab Chha Fixed Deposit Account” to its clientele. “The bank is offering this product with the aim of encouraging financial stability and saving habits amongst future generations,” states a press release issued by the bank on Sunday.
“The product is ideal for salaried professionals, parents and guardians and promises to be a vital source of financial injection in dire times for individuals who are looking to secure their own and their child’s future.”
Under the scheme, the amount deposited will multiply by 6 in 20 years. Here are the major highlights of the product:
– The amount deposited will multiply by 6 in 20 years
– The minimum amount to be deposited is NPR 10,000
– The maximum amount to be deposited is NPR 5,000,000/-
– Multiple Gajjab Cha Fixed Deposit Accounts can be opened.
– Credit card up to FD amount with waiver on issuance charge.
– Loan against Gajjab Cha Fixed Deposit Can be extended up to 90% of cumulative balance in Fixed Deposit account as shown as account balance.
NIBL has been catering to its customer from 88 branches, 131 ATMs, 21 extension counters, 10 revenue collection counters, and 58 branchless banking counters. The Bank, being the recipient of five Bank of the Year awards for exemplary service and business, was accredited with Euromoney awards for “Best Bank 2018” and “Best Bank 2021” from the international publication – Euromoney. ICRA Nepal (International Credit Rating Agency- Nepal) has given the bank a credit rating of A.