Nepal Bank brings deposit accounts for NRNs

Nepal Bank has launched NRN deposit accounts with attractive facilities targeting non-resident Nepalis.

Non-resident Nepalis living abroad will now be able to open online foreign currency savings and term accounts with Nepal Bank Limited. The highest interest will be paid when opening a savings and term account with Nepal Bank in US Dollars, Pounds Sterling and Australian Dollars. When opening a savings and help account in US dollars, the annual interest rate will be 4.5 percent and 5 percent respectively, while attractive interest rates will be offered on other foreign currency deposits.

The minimum balance in both the savings and term accounts should be USD 5,000 or other foreign currency equivalent. NRN account can be opened by non-resident Nepalis individually and jointly and also in the name of organization abroad promoted by non-resident Nepalis. In order to open this account, a copy of the updated identity card of Non-Resident Nepali issued by the concerned body of the Government of Nepal should be included and only deposit and refund can be made through the banking system.