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.
*Please note that 6% tax shall be applicable as per current tax policy.
Minimum Balance - Rs. 500
Interest Rate – 2.85% - 4.75%
Tenure - 3 Months - Above 5 Years
Minimum Balance - Rs. 1,000
Interest Rate – 3.25%
Tenure - 1 Year - 5 Years
Minimum Balance - Rs. 500
Interest Rate – 4%
Tenure - 5 Years
Minimum Balance - Rs. 0
Interest Rate – 4%
Tenure - 5 Months - 20 Years
Minimum Balance - Rs. 1,000
Interest Rate – 4.25%
Tenure - 3 Years
Minimum Balance - Rs. 500
Interest Rate – 3.31%
Tenure - 1 Year - 5 Years
Minimum Balance - Rs. 0
Interest Rate – 3.25% - 5%
Tenure - 3 Months - 1 Year
Minimum Balance - Rs. 1,000
Interest Rate – 2.75%
Tenure - 1 Year - 5 Years
Minimum Balance - Rs. 0
Interest Rate – 2.75% - 2.75%
Tenure - 6 Months - above 10 Years
Minimum Balance - Rs. 1,000
Interest Rate – 3.5% - 4.25%
Tenure - 1 Year - 10 Years
Minimum Balance - Rs. 1,000
Interest Rate – 4.5% - 5.25%
Tenure - 1 Year - 10 Years
Minimum Balance - Rs. 500
Interest Rate – 3.5%
Tenure - 1 Year - 10 Years
Minimum Balance - Rs. 500
Interest Rate – 3.5%
Tenure - 5 Years
Minimum Balance - Rs. 25,000
Interest Rate – 3.15%
Tenure -
Minimum Balance - Rs. 10,000
Interest Rate – 4.95%
Tenure - 1 Year - 5 Years
Minimum Balance - Rs. 500
Interest Rate – 3%
Tenure - 3 Months
Minimum Balance - Rs. 500
Interest Rate – 3%
Tenure - 3 Months
Minimum Balance - Rs. 500
Interest Rate – 3.5%
Tenure - 3 Months
Minimum Balance - Rs. 100
Interest Rate – 2.75%
Tenure - 1 Month
Minimum Balance - Rs. 500
Interest Rate – 4%
Tenure - 12 Months
Minimum Balance - Rs. 1,000
Interest Rate – 2.75%
Tenure - 3 Years
Recurring Deposit(RD) is a combination of fixed deposit and saving product for individuals who prefers to save money periodically from their monthly saving for defined period of time.
Yes, existing account holders can easily open RD account. Where as new customers have to open saving account first to enjoy RD account.
For investors who want to save a regular amount, recurring Deposit is a good investment option without any risk.
All Nepalese individual customers including minors are eligible to open this account.
The minimum or eligible amount of installment is Rs 500 and thereafter in multiple of Rs 500 per month. It may vary from banks to banks.
The minimum period of deposit is 3 months and maximum is 10 years.
A single account holder can open any number of RD accounts.
Yes, customers can choose their own debit date as per their convenient
Currently many banks provide loans against RD up to 80-90 %.
No, The interest will be paid on maturity or on premature closure of the Recurring Deposit.
Yes, banks provide a grace period if the amount is not deposited in the savings account on the commitment date.
No any penalty is charged for default of monthly installment.
Yes, most of the banks provides auto-renewal facility.
Yes, banks offer various benefits like: Insurance, free DMAT account opening, free Mobile banking facility etc.
The monthly installment amount once fixed cannot be altered at any later date. But at any time, the customer can deposit additional amount apart from regular monthly installment with multiple of NPR 500 through Internet Banking/ Mobile Banking or over the counter in this account.
No, System will automatically debit the chosen amount on your chosen date from your account.
Yes, many banks offer pre-mature withdrawal facility in Nepal.
The fixed and recurring deposits are very similar but can be differentiated by how money is invested. High-interest rates and a tax-saving facility are some of the best benefits of an FD. A recurring deposit is best for those who prefer to invest small amounts.
