Mega Bank Nepal Limited has re-launched the 65-days short term fixed deposit product - ‘Mega Deposit Dhamaka Account’.
Under this scheme, accounts can be opened with a minimum balance of Rs 100,000 only with an interest rate of 7 percent per year, according to the bank.
The accounts under this scheme have a maturity period of 65 days from the account opening date, after which both the principal as well as interest amount will be automatically credited into the respective interest nominated accounts of the account holders, it added.
Both the individual as well as institutional depository customers are eligible to open their accounts under the scheme.
The bank also said that this product scheme comes with various other benefits and services, such as free issuance of checkbook and SCT Debit Card, Free Online Banking facility and On Demand Account Statement and Free ABBS facility.
Moreover, the account holders under the scheme can also avail an overdraft loan limit of up to 90 percent of the total Fixed Deposit principal amount. The account can be opened in any of the bank’s branches throughout the country.