Make sure you read this, especially if your a business owner!
If you’re searching for a new place to store your money, it’s important to understand the different benefits you’ll receive from checking and savings accounts. Both types of accounts allow you to earn interest on your balance, but you’ll encounter different features with each. Checking accounts typically grant you greater access to your money, while savings accounts often yield higher interest rates.
Consider how often you’ll need to be able to withdraw your money. Checking accounts typically offer unrestricted access to your funds, though you may be required to keep a particular balance in order to be eligible for the account’s interest rate. Conversely, savings accounts are often accompanied by strict terms on withdrawals. You might be limited to a set number of withdrawals per month or year. However, if you’re planning to keep the money invested, it’s easy to meet the terms of a savings account. If you aren’t prepared for emergencies and unexpected bills, checking accounts provide greater flexibility.
Consider the Interest rates after you’ve determined how often you’ll need access to the money, think about the availability of interest rates. Banks typically offer very different interest rates for checking and savings accounts. Most savings accounts carry higher interest rates because banks can set limitations on your withdrawals. They offer more favorable rates in exchange for your investment commitment. As you choose between checking and savings accounts, think about how much interest you need to receive. If you’re interested in an actual savings vehicle that will help you earn money with low risk, a savings fund is the best choice. Continue reading “Savings and Checking bank accounts: Choosing the Best Account for Your Needs”→
Are you in need of Home Loan for: • Construction of building on land already owned • Purchase of ready built house • Purchase of Flats/Apartments under construction • Purchase of Flats/Apartments already completed • Renovation and extension of the existing building Apply for Home Loan if you belong to this category: • Salaried Individual • Self – Employed Individual • Professionals • Businessmen • Other-individuals having regular and stable source of income
Loan Limit: • Loan amount maximum: 70% of the cost of the property (including the cost of the land). • Maximum amount available up to NRs.70 lakhs. • For need-based purpose the loan limit can range from NRs.5 lakhs up to NRs. 70 lakhs. • For repairs/renovations and extension purpose the maximum loan limit should not exceed NRs. 10 lakhs. Continue reading “Home Loan Informations”→
• NDBL is the first Development Bank in Nepal, where the most leading development bank of India, Industrial Development Bank of India has joined hands for equity participation and to provide technical services.
• NDBL and IDBI signed the Subscription Agreement and Service Agreement on July 7th 2003. IBDI has subscribed 10% of the equity shares of NDBL.
• Since its inception, NDBL has been playing a crucial role as the financial catalyst of industrial development. NDBL is still the clear market leader for industrial term lending, in terms of its contribution in the financial sector. Out of the total deposit and investment of all development banks NDBL alone holds about 58%.
Features: • Saving account can be opened with a minimum balance of NRs. 5000. • No restriction on withdrawal. • Interest is payable semi-annually on monthly minimum balance. • Statement of account will be furnished on quarterly basis. • Cheque book with account holder’s name and account will be provided. • Nomination facility is available. • Strict confidentiality is assured.
Interest Rate: • Interest rate applicable to the Saving Account is 6% per annum. • Interest will be calculated on daily balance and paid on semi-annual basis. • Tax is deducted at source from the interest on saving deposit as per the Income Tax Act, 2058(2001).Continue reading “Savings”→