Kathmandu. Nepal Bank Limited has launched NRN deposit accounts with attractive facilities targeting non-resident Nepalis. Non-resident Nepalis living abroad will now be able to open foreign currency savings and term accounts with Nepal Bank online.

The bank has stated that it offers highest interest rate when opening savings and term accounts with Nepal Bank in US Dollars, Pounds Sterling and Australian Dollars. The bank has stated that when opening a savings and term account in US dollars, the annual interest rate will be 4.5 percent and 6 percent respectively. The bank has also offered attractive interest rates on other foreign currency deposits.

The minimum balance in both savings and term accounts should be USD 5,000 or other foreign currency. The NRN account can be opened jointly in the name of a non-resident Nepali and non-resident Nepali-promoted organization abroad and also in the name of a non-resident Nepali, the bank said.

In order to open this account, a copy of the updated ID card issued by the concerned body of the Government of Nepal should be included and also the amount can be deposited and withdrawn only from the banking system. The term account can be opened for a period of at least one year or more.