A special kind of term deposit offered by banks which help people with regular incomes to deposit a fixed amount every month into their recurring deposit account and earn interest at the rate applicable to fixed deposits.
Benefits*
Interest calculated on the daily outstanding balance and capitalized on a monthly basis
Loan against RSA up to 90% of the available amount can be availed at any time
Accidental Death Insurance: The insured amount shall be four times the minimum balance in an account during the Nepali month of the accident, subject to a maximum of Rs 500,000/-
Deposit Guarantee of up to Rs. 300,000/- in line with regulatthe ory requirement of Nepal Rastra Bank.
