Remittance IPO Savings Account

1000
8%

Remittance IPO Savings Account

1000
8%

"Remittance IPO Savings Account (RISA)" is a new Savings Deposit Product to be launched for Nepalese Individual worker who are working abroad under foreign employment with having valid labor permit from concern government authority of Nepal. This product has been designed in reference to Securities Issuance and Allotment (Sixth Amendment) Directive dated 207 9/07/18 issued by Securities Board of Nepal.

Features :

  • Free Any Branch Banking Service' (ABBS)
  • Free issuance of Visa Debit Card*
  • Free Mobile Banking for first year only.
  • Free De-Mat Account for first year only.
  • Free Internet Banking for first year only.
  • Mero share and C-ASBA registration service shall be provided with subject to full fill required documentation.
  • Account opening via online platform

Required Documents :

  • Nepalese residing abroad under foreign employment with valid visa and labor permit obtained from concern Government authority of Nepal shall be eligible to open RISA.
  • Minimum of Rs 50,000 (at once or accumulated) within 6 months must be received in the account. The remittance must receive from abroad through formal banking channel from the country in which customer is working under foreign employment and it should be sent by the remitters themselves.
  • IPO application amount shall be limited to remittance sent in last six months from abroad where customer is working as foreign employee. Eg, If NPR 70,000 is received as remittance in the past six months, the maximum application amount is NPR 70,000.
  • Work Permit expiry date should be valid to apply for every IPO as work Permit document is compulsory to be provided to Issue Managers for every IPO.