MBL Balbalika Bachat Khata
MBL's "Balbalika Bachat Khata '' is a popular children's savings account in Nepal. MBL Balbalika Bachat Khata is a product designed for children aged up to 15 and below. It also favors parents who want to create an early financial plan to save a significant amount of money for their children's future. The authorized person for the child’s account can make deposits and transactions via the internet and mobile banking.
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Product Features/Benefits :
- Minimum Account Balance: Zero
- Interest Payment Frequency: Quarterly
- This is a personal saving account for minors.
- The account will be automatically converted to the Normal Saving Account once account holder turns major legally.
- Free subscription of Internet Banking.*
*Charges are free for the first year only. Charges as per Standard Tariff of Charges shall be levied from second year onwards.
Documents Required :
- Duly filled Personal Account Opening Form
- Birth Certificate of Account Holder
- Legal Identification documents such as Citizenship Certificate /Valid Passport of the Parents/Guardians (Signatory)
- Two recent Passport (PP) size photographs of the account holder/ Parents/Guardians
- Identification documents of Nominee along with PP size photograph of the Nominee
- Duly filled KYC form of Parents/Guardians (Signatory)
- Any other documents specified by NRB from time to time
