MDB adds products

KATHMANDU, Jan 1:

Manakamana Development Bank (MDB) on the auspicious occasion of New Year 2013, has launched new deposit products ‘Manakamana Ujjwal Bhabisya Muddati’ and ‘Manakamana Ujjwal Bhabisya Bachhat’ targeting the 0-21 age group. The account under the scheme can be opened with a minimum balance of Rs 1,000 that attracts seven per cent interest rate per annum and available discount on vehicle and home loan. Under the muddati scheme, parents and guardians can open fixed deposit account with a minimum balance of Rs 25,000 and above with an interest rate of upto nine per cent per annum based on the maturity period. Incase of premature withdrawal of the deposit, no charges will be levied, it said.

Source: THT