Global NRN FCY Fixed Deposit Account
This product is designed specially to meet the financial demand/requirement of the Nepalese residing/working outside Nepal.
Overview
Global IME Bank introduces NRN Fixed Deposit Account to the individual and institutional customers with maximum benefits. The account can be opened through our online portal through video KYC.
Global NRN (Individual) FCY Fixed Deposit
Global NRN (Institutional) FCY Fixed Deposit
Note: Can be opened in USD, AUD, GBP, CAD, CNY, JPY & EUR.
Customer can open NRN FCY or LCY Saving Account.
Features
Hassle-free repatriation of principal and interest without any charge.
.svg){kind=small}
Internet banking and mobile banking facility on demand.
.svg){kind=small}
Special concessions on conversion of FCY deposit into NPR, as per your need and convenience.
Can be opened online through video KYC
As the account is opened in foreign currency, there is no exchange rate fluctuation risk.
Details
|
Eligibility |
Non-Resident Nepalese & Institutions promoted by NRNs |
|
Interest Calculation |
On Daily Balance |
|
Interest Posting |
Quarterly basis (As per Nepalese Calendar) |
|
Term |
"Shall be as per ALCO decision/ published interest rate" |
|
Currency |
USD (United States Dollar) |
|
Min. Balance |
USD 1000/- or above |
|
Interest Rate |
"Shall be as per ALCO decision/ published interest rate" |
|
Currency |
EUR (Euro) |
|
Min. Balance |
Equivalent to USD 1000/- or above |
|
Interest Rate |
"Shall be as per ALCO decision/ published interest rate" |
|
Currency |
GBP (Great Britain Pound) |
|
Min. Balance |
Equivalent to USD 1000/- or above |
|
Interest Rate |
"Shall be as per ALCO decision/ published interest rate" |
|
Currency |
AUD (Australian Dollar) |
|
Min. Balance |
Equivalent to USD 1000/- or above |
|
Interest Rate |
"Shall be as per ALCO decision/ published interest rate" |
|
Currency |
CAD (Canadian Dollar) |
|
Min. Balance |
Equivalent to USD 1000/- or above |
|
Interest Rate |
"Shall be as per ALCO decision/ published interest rate" |
|
Currency |
JPY (Japanese Yen) |
|
Min. Balance |
Equivalent to USD 1000/- or above |
|
Interest Rate |
"Shall be as per ALCO decision/ published interest rate" |
|
Currency |
CNY (Chinese Yuan) |
|
Min. Balance |
Equivalent to USD 1000/- or above |
|
Interest Rate |
"Shall be as per ALCO decision/ published interest rate" |
|
Currency |
NPR (Nepalese Rupees) |
|
Min. Balance |
NPR 5,000.00 (Nepalese Rupees Five Thousand only) |
|
Interest Rate |
As published normal Individual FD rate |
Others
- Instant liquidity facility against Fixed Deposit (LAFD) up to 90% of the Fixed Deposit amount (NPR equivalent) at published rate of LAFD
- Free repatriation own Bank charges (Waiver of SWIFT and T.T. charges) principal amount and interest earned subject to regulatory approval.
- 20 paisa / USD premium or equivalent to other FCY on buying rate spread during FCY conversion to NPR
Required documents
- Additional form also need to fill up along with standard account opening form.
- Additional form requires details like NRN number, currency and repatriation details
Valid NRN Identity card issued by NRN Association or authorized government entity and certified photocopy of passport (National or Foreign). - Any individual holding Nepalese citizenship or father, mother, grandfather, or grandmother having Nepalese citizenship has later taken international citizenship (Except SAARC Countries) valid foreign passport / citizenship including documents verifying such case.
- Even the minor can open such accounts with any of the above mentioned documents along with relationship certified papers.
- While opening the account of institution promoted by NRNs also any of the above mentioned documents should be obtained along with the required documents of institution.
- Duly filled repatriation form. Repatriation is allowed ensuring the fund transfer is made to the account maintained at the same country and currency from where the fund was received. Account name also to be matched. However, this does not restrict transfer and withdrawal of fund in NPR.
- Other documents as deemed required.
Savings account is compulsory to open fixed deposit account.
