Personal Banking

Current Deposit

Current Deposit Accounts are opened for customers who desire that the Bank should handle their transactions, collect cheques/bills, etc. on their behalf and make payments as per standing or specific instructions. Thus, the motive for opening a Current Deposit Account is not to earn interest on deposits as in the case of Savings deposit and Term Deposit, but to avoid direct cash handling, maintaining accounts, preparation of account statements and certification of balances along with other various banking services.

Eligibility:

(a) Individuals Singly or Jointly with others;
(b) Firms – Sole Proprietorship/Partnership;
(c) Clubs, Societies, Associations;
(d) Limited Companies, Government Corporations, etc.

Documents required for opening of New Account:

An Individual
  • Two Passport Size Photographs.
  • Citizenship Identity Card/Passport photocopy.
  • An introduction by our Bank CD Account holder for the last six Months.
Sole Proprietorship
  • Trade Licence Photocopy.
  • Citizenship Identity Card/Passport photocopy .
  • Letter of Authority & Photographs of the persons operating the Account.
Partnership
Firms
  • Partnership Deed.
  • Trade Licence Photocopy.
  • Citizenship Identity Card/Passport photocopy of Partners.
  • Photographs of the persons operating the Account .
Limited
Companies, Govt.,
Corporations, etc.
  • Memorandum & Article of Association.
  • Copy of Board of Directors resolution Authority of the Company to open & operate the Account.
Minimum
Balance
  • Nu.1,000/-

Service Charges:

Service charges Nu.50/- will be charged when the balance in an account falls below the required minimum balance.

Dormant Account:

Current Deposit accounts are treated as dormant in case there are no operations i.e. debit or credit entry for 1 year and more. A service charge of Nu.50/- will be charged every year on such accounts.

Cheque Books:

To enable customers to withdraw money or make payments to third parties, the Bank supplies Cheque Book containing printed cheque leaves to customers. Cheques should be kept under lock and key and should inform bank immediately in case of theft or misplacement.

Cheque Book Charges:

The following Cheque Books charges are with effect from June 01, 2006.

    • 100 Leaves Cheque Book: Nu.75/Book
    • 50 Leaves Cheque Book: Nu.50/Book
    • 25 Leaves Cheque Book: Nu.25/Book

* For fresh accounts, the 1st and only one cheque book will be provided free.

Loss of Cheque Book:

A depositor has to pay the above Cheque Book Charges for issuing a fresh chequebook in case the chequebook already issued has been reported lost/misplaced/stolen.

Stop Payment:

Customers may stop the payment of blank cheques or cheques already issued by them if these are lost, misplaced, removed by theft or for any other reasons. It is our duty to ensure that the interests of our customers are safeguarded. Stop payment charge of Nu.50/- shall be levied for every stopped cheque.

Account Statement:

Every Current Deposit Account holder will be furnished with a statement periodically. However, for issuing duplicate statement of accounts, an amount of Nu.10/- will be charged for each small page and Nu.20/- for each big page.

Standing Instruction(SI):

SI refer the instruction given by customers to the Bank to undertake certain transactions weekly, fortnightly, monthly, quarterly, half-yearly or annually on their behalf. No charge/additional charge will be made for noting standing instructions. Our usual charges while undertaking SI, like exchange on drafts, postage etc. would however, be recovered from the account along with the amount remitted or transferred.
For further information, please contact our nearest branch.