1.. This is a Personal Individual Deposit Account opened on behalf
of individuals below 14 years of age by their parents/guardians
2..The account may be opened with a minumum balance of NPR 16.00
3..The account will provide interest @ 8% per annum with interest calculated
on a daily balance and credited to the account quarterly
4..This account can be opened in local currency only
5. This is a deposit account only till the child reaches 16 years of
age.
6..The parents/guardians can take loans against the deposit upto maximum
three times during its entired span.
7..The balance will be transferred to the normal saving account upon
maturity of the account.
8..The account closing charge will be NPR500.00 if the accounts are closed
within the maturity period of the account. However, the account must be
maintained for minimum perioud of two yearsto earn interest of 8%
9..If the account is closed within two years, the interest for the whole
tenure will be computed at the prevailing normal saving account plus an
account closing charge of NPR.750.00
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