Message From CEO

In the context of Microfinance sector of Nepal has been emerging industries for access to finance in village area, where infrastructure, economic activities, social awareness is very poor. Microfinance is playing a vital role to access the financial services with poor people and enhancing their economic status as well as quality of life. Today MFIs function in a complex environment and face significant challenges including increased competition, tighter regulation

more >>

Essential Saving

S.N. Feature Remark
1. General Information
• Group based product
• Automatic account opening in name of group : YES
• Optional deposit : No
• Account Holder : Member
• Deposit Type : Saving
• Loan not issued against it
2. Interest Information
• Interest rate : 6% per annum
• Interest posting freq: Quaterly
• Interest expense : Daily
• Interest calculated on : Daily balance
3. Amount withdrawal Policy
• Minimum balance should be maintained @ Rs.1500 or 10% of Outstanding loan.
4. Source of fund:
• Each member should be deposited fixed minimum Rs. 5 to 30 in each group meeting.
5. Taxation on interest:
• Income below 10,000.00 may not be entitled to tax. Tax rate is 5 %
• Tax shall be deducted during interest post frequency
6. Account closure:
User is allowed to close account if group is dismissed.
Closing charge Rs.50.00