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)
