MBL Uchha Sikshya Nikshep Yojana
This deposit scheme deposit aims to encourage parents to start saving for their children earlier which sums up to make big difference when children reaches to the age of 16 for their children’s college education.
- Interest Payment Frequency: Quarterly
- Minimum Account Balance: NPR 16.00
- This is a Personal Individual Deposit Account opened on behalf of individuals below 14 years of age by their parents/guardians.
- This account can be opened in local currency only.
- The account shall mature after child reaches 16 years of age. The balance will be transferred to the normal saving account upon maturity of the account.
- If the account is closed within two years, the interest for the whole tenure will be computed at the prevailing normal saving account.
- Free Internet Banking, MBL Mobile Money (M3).*
- 50% discount on locker service**
*Charges are free for the first year only. Charges as per standard tariff of charges shall be levied from second year onwards.
**waiver on charges is applicable for the first year only. Charges as per the standard tariff of charges shall be levied from second years onwards.
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