“Mero Kramik Khata is a recurring deposit product where individuals can regularly deposit a fixed amount of money at predefined intervals and enjoy the interest rate of FD to earn highest return on their savings.”
This product offers interest rate of fixed deposit to customer wherein customers can choose a fixed amount which they can transfer to Recurring Deposit Account either in there owns account or designated persons account for a defined period of time every month in order to earn highest return and create savings habit at the same time for future investments.
The insurance coverage amount is up to NPR 5 Lakh as per Monthly Recurring Deposit with maximum facility up to 25 lakh. There are no charges on late payment exceeding 28 days grace period. Premature Breakage charges is NPR 10 per standing instruction execution.
Yes. Customers can avail loan against recurring deposit up to 90% amount after 3 months of regular deposit. The rate of loan against RD will be as per prevailing STC.
Yes, multiple RD accounts can be opened by the customer.
No, direct credit to the account is not allowed.
An insured can claim for insurance only once during his/her life time.
In case of accountholder’s death, the amount shall be paid to his/her nearest beneficiary as per the government rules. Insurance company upon receipt of all the required documents shall verify and proceed for the claim settlement within 15 working days.
The documents required for claiming insurance are as follows:
a.In case of Death
b.In case of Permanent Total Disability
The documents required to open account are as follows:
Customer need to visit nearest branch & provide Mero KramikKhata closure request. Appropriate breakage charges will be applicable.
Debit card cannot be subscribed under this product whereas for Mobile and Internet Banking only viewing options are available.
Mero Kramik Khata is based on the principle of RD (Recurring Deposit) that offers higher interest rate with additional benefit of term life insurance.
Customer shall not be provided term insurance facility in case monthly payment is not deposited on the commitment date or within the provided 28 days grace period from the commitment date but can continue his/her RD without term insurance facility.
It’s an additional period from the commitment date that a customer receives in a month to make minimum deposit. The Grace Period under this product is 28 days from the commitment date.
To make monthly deposit, customers must have one saving account maintained at any branch of NMB through which s/he can provide Standing Instruction (SI) to the Bank to debit minimum monthly deposit amount. The customers are required to make minimum monthly deposit on the date of account opening & every month thereafter. Grace period is provided to the customer if there is insufficient amount in the saving account on the commitment date.
Customer should declare regarding any pre-existing illness in the letter of understanding during account opening. Customer will not be insured against death arising out of such pre-existing illness.
No, medical report is not required to be submitted prior to opening the account.
Term Life Insurance for any causes of death (except suicide) and permanent total disability are covered under this product.
Yes, there is insurance facility available in Mero Kramik Khata.
No, Joint account cannot be opened under this product.
There is no age limit to open this account.