Normal Savings Account

Normal Savings Accounts are accounts that have been designed to encourage the culture of saving amongst private individuals, housewives, and other members of the community. It provides a nest-egg for the rainy day and encourages thrift by paying a modest interest rate.

 

Drinchen  Ama Savings Account

Drinchen Ama Savings account is a variant of a regular savings account focused on the home makers/ heads of families (usually the mothers) who are in charge of the wellbeing of the family, to help them save, inculcate financial discipline, and secure the family. A minimum amount of Nu.50 along with a khaddar/scarf and Drinchen Ama Savings Box is provided to the clients.

Pensioners Savings Account

Pensioners’ Savings Account is a special type of savings account maintained by the bank as desired by the National Pension and Provident Fund (NPPF), for the convenience of pension holders, and has all the features of a regular savings account, except for the following special requirements:

  1. A Pensioner’s Savings Account shall be opened only upon the receipt of an official request letter from the NPPF to open such an account.
  2. Pensioner’s Savings Accounts shall be operated only by the account holder.
  3. No deposits to the Pensioner’s Savings Account, other than the transfers made by the NPPF, shall be accepted.
  4. Only personal withdrawals from the account, through withdrawal forms, shall be allowed. The withdrawal form should invariably be accompanied by the account passbook and the pension ID card for each withdrawal.
  5. ATM cards and cheque facility is not to be allowed against Pensioner’s Savings Account unless otherwise stated. 

Youth Ethics (YE) Savings

Youth Ethics (YE) Savings is a new concept floated by RMA in 2018, with the aim to bring young students in to the banking system. Only students below the age of 18 are eligible to hold YE banking accounts. This concept has been designed to:

  1. Inculcate the savings habit and
  2. Educate our youngsters on practical financial knowledge on banking, insurance and others.

When schools design and encourage children to participate in activities on values, ethics, competencies and other capabilities merged with the ongoing activity during a calendar year. The activities include, but are not limited to, quizzes, morning speeches/ extempore, financial clubs, dramas, essay competition, story writing, poem, debates, art, game designs, songs, enterprising ideas etc. When children perform or participate in such activities, they are rewarded with Dummy Bank Notes (DBN) that is pegged with Bank Points (BP). The Bank Points earned during the year gets converted to real money on an annual basis which will then be deposited into “My YE-Banking Pass Book” issued by the school.

 Current Deposit Accounts

Are non-interest bearing deposit accounts that enables customer to handle their transactions, collect cheques/bills and make payments. This type of account is not meant for saving funds, and therefore has no restrictions on amount or number of withdrawal/deposits. The account can be operated using cheques and written instructions.

 

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