News Detail

February 13, 2015- News

Civil Bank Limited has launched a recurring deposit product named “Swachalit Muddati Khata” which allows customers to make deposits according to their convenience. The product is the first of its kind in Nepal. While opening this account, the customer needs to determine their committed amount and the tenure of deposit. While the account can be opened by depositing 10% of the commitment amount, the tenure of the deposit may range from 6 months to 3 years. The product offers attractive interest rates of 5.50% p.a. for 6 months, 6.00% p.a. for 1 year, 6.25% p.a. for up to 2 years and 6.50% p.a. for up to 3 years. The applied rate of interest shall not change during the deposit period and 50% discount on loan processing fees and locker facilities is also offered with the product. Depositors will also be able to take a loan of up to 90% of the deposited amount.