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    Foreign Employment Saving Account, is a product especially designed in line with the recent 6th Amendment in Dhitopatra Niskasan Tatha Baadfaad Directives, 2079 (dated 2079-07-17) issued by Securities Board of Nepal, which states that all public organization should reserve 10% of its total Initial Public Offering(IPO) to Nepalese citizens who have gone and is in abroad with the objective of foreign employment and have been granted work permit Ministry of Labor, Employment and Social Security.

    Features

    Product Name

    Foreign Employment Saving Account

    Primary Target Market

    Nepalese citizen working abroad with work permit obtained from Ministry of Labour, Employment and Social Security

    Minimum Balance

    NPR. 1,000/-

    Eligibility of Deposit

    Deposit from remittance channel or direct deposit in the account

    Interest rate

    As per Published rate by the Bank from time to time in addition with NRB provision

    Ks iMobile 

    As per STC

    Debit Card

    As per STC

    Locker charges

    As per STC

    Locker Security Deposit

    As per STC

    Account Statement

    As per STC

    C-ASBA

    Registration Free, Annual Renew as per CDSC

    DEMAT

    Registration Free, Annual Renew as per CDSC

    Mero Share

    Registration Free, Annual Renew as per CDSC

    Interest Calculation

    Interest Calculation on daily basis and payable on quarterly basis


    Required Documents

         a) Recent passport size Photo

         b) Valid passport with Visa

         c)  Work Permit

         d)  Employee ID Card (It shall be optional)

          e) Remittance Voucher (If it can be tracked and ensured from account statement, then it shall be optional)

          f)  Any other valid ID documents (It shall be optional)