November 17th 2017
१ मंसिर २०७४

Sunaulo Bhabisya Nikchep Yojana

Sunaulo Bhabisya Nikchep Yojana is another unique deposit product launched by Garima Bikas Bank Ltd. The objective of this product is to mobilize and popularize the habit of savings among children aged below 16 years and to tap potential customers for Garima Bank. The target groups for this deposit are

  1. New born babies
  2. Pre-school children in Montessori
  3. School children
Features
  1. Children below 16 years can open this account.
  2. Account can be opened with the zero balance
  3. There is higher interest rate equivalent to 1 year Fixed Deposit rate (as per the management's decision from time to time) compared to the other savings deposit due to its long term nature.
  4. The account shall be opened in the name of the minor but can be operated by any of the parents and legal guardian. The identity card should be obtained.
  5. The initial deposit shall be NPR 500.00 or multiple of NPR 500.00 and further deposit should also be in NPR 500.00 or multiple of NPR 500.00.
  6. Premature withdrawals are allowed in exceptional cases like:
    1. For the education of child. However, the documentary evidence should be produced
    2. For emergency medical treatment. However, the documentary evidence should be produced.
  7. Interest payment will be made in quarterly basis and capitalized to same account.
  8. Cheque Book not issued
  9. When the child reaches 16 years of age the account is closed and balance transferred to saving account opened by the minor turned adult.
  10. In the event of the death of the child the account must be discontinued.
  11. Customer Service Desk should closely monitor these accounts so as to ensure deposits are made of NPR 500.00 or multiple of NPR 500.00.
  12. FREE account statement
Requirements
  1. Completed account opening form
  2. Two Passport size photograph of Child and Guardian each
  3. Birth Certificate from Hospital or from VDC/MPC
  4. Valid means of identification of Guardian;  Citizenship ID or Passport
  5. Nominee Citizenship copy & one Passport size copy (Nominee not mandatory)

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