A Recurring Deposit (RD) is a type of savings account where individuals can regularly deposit a fixed amount of money at regular intervals (monthly, quarterly, etc.). Over time, these regular deposits accumulate with interest, and the account holder receives a lump sum amount at the end of the predefined period. However some banks in Nepal, deposit interest earned on normal savings accounts either monthly, quarterly or at maturity as per predetermined agreement.
| S.N. | Bank Name | Product | Interest Rate |
|---|---|---|---|
| 1 | Nepal Investment Mega Bank | NIBL Recurring Fixed Deposit | 7% |
| 2 | Prabhu Bank | Prabhu Recurring Fixed Deposit | 6.1% |
| 3 | Everest Bank Ltd. | SUNAULO BHAWISHYA YOJANA | 6% |
| 4 | Garima Bikas Bank | Recurring Savings Account | 6% |
| 5 | Citizens Bank | Citizens Recurring Deposit(NPR) - 1 Year and above | 5.65% |
Minimum Balance - Rs. 500
Interest Rate – 5.31%
Tenure - 1 Year - 5 Years
Minimum Balance - Rs. 0
Interest Rate – 4.5% - 5.65%
Tenure - 3 Months - 1 Year
Minimum Balance - Rs. 1,000
Interest Rate – 4%
Tenure - 1 Year - 5 Years
Minimum Balance - Rs. 0
Interest Rate – 5.5%
Tenure - upto 5 Years
Minimum Balance - Rs. 0
Interest Rate – 5.1% - 6.1%
Tenure - 6 Months - above 5 Years
Minimum Balance - Rs. 500
Interest Rate – 6%
Tenure - 3 Months