Bank of Kathmandu
(BOK) is
launching another recurring
savings scheme - Mero Bachat
Yojana from September 1,
2005. It has been initiated
as the bank gained
overwhelming response from
the public for Kopila Bachat
Yojana that launched on
August 1, 2005. Mero Bachat
Yojana will promote savings
habits to general public.
With this scheme one can
plan future financial
requirements by depositing
small but fixed amount every
month to get lump-sum big
amount that requires in days
to come.
The scheme has been made
simple and easy by fully
automated banking system. At
single stand-by instruction
from the customer, the
Bank's system transfers
prescribed deposit amount to
Mero Bachat from the
principal account maintained
with the bank. To make the
service affordable to most
of the people, it has been
made available from monthly
deposit of Rs. 1,000 to any
amount multiple of thousand.
The service will be
available for 2 to 10 years
term. With the intention of
providing added benefits to
it's customers, the bank has
offered a higher interest on
deposits for the scheme than
that of savings account;
further interest is also
paid on quarterly basis.
The bank management
believes, the scheme will
promote savings habit among
its customers and at the
same time give them higher
yield. Further more
customers may get loan up to
90% of the total account
balance or Rs. 10,000,
whichever is greater, if
require.
The scheme will be available
from all BOK branches
nationwide from September 1,
2005.
More info go to Bank of Kathmandu
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