KATHMANDU: Muktinath Development Bank, which came forward with the slogan ‘People should not come to the bank; the banks should go to people’s doorstep,’ has launched ‘Muktinath Sambriddhi’ savings account of late.
The bank, which has come up with various schemes for the continuous benefit of the customers, has also announced to give the highest annual interest rate in July. Basanta Bakshi, the head of Marketing promotion and Institutional Affairs, informed that the same interest will be paid on a monthly basis.
Here are excerpts from a discourse with Bakshi:
What is the main attraction of Sambridhi Savings Account recently introduced by Muktinath Development Bank?
We also suffered like other banks in Nepal during the coronavirus pandemic. However, we felt we have to do something substantive for our valued customers. So, though in a transitional period, we brought the scheme with highest possible savings account facility to our valued customers.
The Sambriddhi Bachat Khata ( which literally means ‘Prosperity Savings Account’) of this Muktinath Bank is offering an annual interest rate of 5.25%, which is equivalent to the higher interest rates of other banks. However, the main feature or attraction of this savings account is that the bank pays interest on a monthly basis.
Other savings accounts now have daily interest calculations and quarterly interest payments, but this Sambriddhi Bachat Khata has daily interest calculations and monthly interest payments. Customers will be able to withdraw and keep the amount as they wish as the interest will be credited to their savings account on a monthly basis even without opening a term account.
Just because Sambridhi Bachat Khata has the attractive interest rates and monthly interest payments, can it be labelled as the best savings account?
Muktinath Bank’s Sambriddhi Bachat Khata has various features. The account can be opened at a minimum balance of Rs. 100 only.
Not only this, the account holders also have the facility of free mobile banking and free internet banking throughout the first year of opening the account.
In particular, the bank has introduced this facility in this savings account to promote digital system. This is one of the best savings accounts of Muktinath Bank.
Is Muktinath Bank’s Sambriddhi Bachat Khata only for large depositors or also for general depositors?
As Muktinath Bank’s Samriddhi Savings Account is for personal savings, this account can be opened by all Nepali citizens from minors to over 18 years of age. This account can also be easily applied from Muktinath Development Bank’s website.
What is the reason behind launching Sambriddhi Bachat Khata?
Muktinath Development Bank has always been involved in the construction of facilities and services for the benefit of its customers. We have launched this savings account to develop the habit of saving with the highest returns of the customer class keeping in view the advice and suggestions of the bank dignitaries and considering the importance of savings learned in the current critical situation of coronavirus pandemic. The bank has also introduced free mobile banking and free internet banking to promote digital systems.
What percentage of interest are you currently paying on personal term?
This Muktinath Development Bank has been striving its best to give the highest possible return to the customers. We pledge to continue to be more responsible in customer safety and service in the days to come. As far as the interest rate of fixed deposit account is concerned, we have been paying the highest interest to the customer. We are currently offering interest up to 8.25% on personal Term Account.
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