Time deposit accounts are meant for those individuals and corporate houses, who would like to earn interest on the fund not in use otherwise for a period of time. Time deposit accounts are opened for a fixed period of time ranging from 2 weeks to more than a year. These accounts pay interest to account holders at the rates agreed upon with customers at the time of opening time deposits. The interest rate and initial deposit will be fixed for the period as agreed with the bank. In case time deposit holders need fund from the time deposit account prior to its maturity, they can apply for a loan pledging the time deposit certificate on which the bank will have the lien.
We open time deposit accounts in Nepali Rupee and various other convertible foreign currencies.
For interest rates of time deposits of different time periods, please click here