Civil Bank Ama Buwa Bachat Khata is a special savings product targeted towards senior citizens who are above 58 years of age. Civil Bank aims to solicit deposits of senior citizens by offering innovative value-added features in addition to competitive interest rates, yielding not just high returns on their hard-earned income but also providing convenience and easy accessibility to their savings. This is the only savings account in its category at the Bank that provides interest on a monthly basis thereby giving the added benefit to the account holder by providing a higher effective rate of return on the investment than other products.
Basic Eligibility Criteria
It is a special savings product targeted towards senior citizens who are above 58 years of age.
Customer holding balance of NPR 10,000 /-
- Delivery of sweets on Mother’s Day/ Father’s Day if account balance is maintained at NPR 100,000 at the time of the aforementioned occasion (Quantity shall be as per available budget).
- Free Debit Card (first year only).
- Deposit collection facility above NPR 1,000,000/- and interest amount delivery on a quarterly basis.
- Free Accidental death/ permanent disability insurance upto NPR 0.5 Million or upto four times the minimum balance maintained in the account at the time of accidental death.
- Free cheque book.
- Customers of ‘Ama Buwa Bachat Khata’ are identified as ‘Purple Banking Customers’ and a ‘Purple Card’ is provided to them. All services under the ‘Purple Card’ shall be extended to them.
Rates & Fees
Rate of Interest: 6.50%
Interest Rate Calculation: Daily basis
Interest Rate Posting: Quarterly basis
All documents as per the Bank’s KYC Policy and the directives of Nepal Rastra Bank.