Civil Bank launches annuity deposit scheme

Published On: September 10, 2019 12:18 PM NPT By: Republica  | @RepublicaNepal


KATHMANDU, Sept 10: Civil Bank Ltd has launched Annuity deposit scheme, which, according to the bank, is a combination of saving and fixed deposit.

"Under this scheme, customers can open a deposit account with minimum balance of Rs 1000. The maturation period can be 1 to 7 years," mentioned a press release issued by the bank. Customers can deposit fixed amount out of their saving every month under the scheme.

They will receive consistent amount of interest throughout the deposit period and can receive total amount at the maturation period. "When needed, customers can close their account after three months. Also, they can take 60 percent loans from the reserved amount," the press release added.

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