From Anywhere In the World

SEND

REMIT

Send Remit Now

From Nepal

REQUEST

REMIT

Request Remit Now

INTRODUCTION

For a very limited time period, Muncha Money along with Kumari Bank Limited is offering its customers highest interest rates on Fixed Deposits being opened for remittances.

The account is automatically opened with a single click while sending the remittance to Nepal.

PARTNER BANK

Kumari Bank Limited, came into existence as the fifteenth commercial banks of Nepal, starting its banking operations from Chaitra 21, 2057 B.S (April 03, 2001) with an objective of providing competitive modern banking services in the Nepalese financial market. The Bank has paid up capital of NPR 26.23 billion.

Kumari Bank Limited provides a wide-range of modern banking services through 416 points of representation located in various urban, semi-urban and rural parts of the country, with 302 branches, 49 extension counters and 65 Branchless Banking Units.

The Bank has pioneered in providing modern banking services like Internet Banking and Mobile Banking. With the implementation of Core Banking Software, FINACLE (version 10), the Bank has been providing a robust, ultra-modern banking platform for all customers throughout the country.

Our Services

HOW TO CREATE A FIXED DEPOSIT WITH REMITTANCE?

You can ensure that you receive the highest interest rates thru Kumari Bank Limited when you send a remittance into Nepal from overseas and click on Fixed Deposit (FD) creation.

Here are the steps to create your FD

STEP 1:CLICK ON FD WHILE SENDING MONEY

Once the beneficiary requests for remit, sender have to choose Fixed Deposit option while sending money

STEP 2: CONFIRM THE INTEREST RATES AND PERIOD OF FD

After choosing Fixed Deposit option, sender have to confirm time period for fixed deposit. Note: Interest rate shall vary according to chosen time period.

STEP 3: INTEREST POSTING METHOD

Interest is posted at the end of the period of your Fixed Deposit and you will be able to withdraw both interest and principle amount together.

STEP 4: HIGHEST INTEREST RATE

Now beneficiary can enjoy INTERESTING INTEREST from their Fixed Deposit. This is the highest interest rate that any financial institution can provide in Nepal and special approval provided for remittance coming into Nepal.

HIGHEST INTEREST RATE

Earn the highest interest rates that any commercial bank is giving at the moment when you send a remittance and the FD is automatically opened under beneficiary name.

This is approved by Nepal Rastra Bank to provide an additional 1% interest on the highest interest rate.

Intereste Rate: 9.11% per annum

Paid: Quaterly   

PERIOD OF FIXED DEPOSIT

The Fixed Deposit Periods can be anywhere from 3 month to 3 years.

The interest rate is fixed when you open the account. Even if the interest rate fluctuates later after the account is opened to go higher or lower, your Fixed Deposit account interest rate is fixed till the period of your Fixed Deposit.

INTEREST PAID OUT EVERY QUARTER

Interest fromyour Fixed Deposit is paid out into your saving account at Rastriya Banijya Bank Ltd at the end of every quarter calculated from the Bikram Sambat fiscal year and fiscal quarter.

Frequently Asked Questions

FAQ'S

We have tried to answer all of your questions that you may have about this campaign here:

Fixed Deposit in Whose Name?

The Fixed Deposit will be opened in the name of the Beneficiary who is in Nepal and not the sender in overseas country.

Is the Fixed Deposit Account with Muncha Money or Kumari Bank  Ltd?

Muncha money  has only partnered with Kumari Bank Ltd to provide this service. The funds are going to be with Kumari Bank Ltd and they are the bank that is going to be providing you the interest on your deposits.

Do you need any other documents to open my Fixed Deposit?

If there are any requirements for KYC documents to be filled up to open your Fixed Deposit Account, we will contact you again if we do not have adequate information with us.

Can I Open My Fixed Deposit Account in Another Bank?

Currently we have signed up with Kumari Bank Ltd and all remittance are eligible for Fixed Deposit Account in Kumari Bank if the funds are coming from remittance thru  Muncha Money Transfer.

What is the Minimum Amount for my Fixed Deposit

The minimum amount for the Fixed Deposit Account is NPR 5,000 (Nepalese Rupees five thousand only).

Can I Open A Fixed Deposit Account even if I have not received a Remittance?

No. This special high interest rate has been approved by Nepal Rastra Bank for monies coming from Remittances only.

Do I have to Open a Fixed Deposit of the full Amount of my Remitance?

No. You can put partial amount of your remittance into Fixed Deposit, it does not have to be the full amount. For Example, you remittance could be for NPR 10,00,000 (Nepalese Rupees ten lakhs only) and you can open the Fixed Deposit Account for any amount of over NPR 5,000 (Nepalese Rupees Five Thousand only).

Can the Fixed Deposit be opened in another person's name?

No. This Fixed Deposit Account can only be opened in the name of the Beneficiary of the Remittance.

In case in future I need to take a loan against my Fixed Deposit, is this possible.

Yes, you can definitely take a loan against your Fixed Deposit Account as per the rules and regulations of Kumari Bank Ltd.

Can I close my Fixed Deposit Account before its maturity?

Yes this is possible. There might be some fees you might have to pay at the time of premature account closure as per the rules and regulations of Kumari Bank  Ltd at the time of closing the account.
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