KATHMANDU, June 25: Shangri-la Development Bank is launching two new saving accounts -- Shangri-la Premium Saving Account and Social Security Saving Account -- on Sunday.
Issuing a statement, the bank said that customers can open Shangri-la Premium Saving Account with a minimum balance of Rs 5,000. It yields 9 percent annually. Similarly, Social Security Saving Account, which can be opened with zero balance, offers return of 9 percent annually. The bank has also said that it would provide Application Supported by Blocked Amount (ASBA) to its customers free of cost in order to facilitate its depositors to invest in initial public offering (IPO) and follow-on public offering (FPO) of any public company.
Shangri-la is the first development bank in the country to provide online ASBA service, the statement added.