14th June 2025, Kathmandu
Nabil Bank has launched the Gen-N Account, a digital savings deposit scheme specially designed for the new generation. This account suits young Nepalese who prefer easy and fast banking. It offers many benefits, making it a perfect choice for today’s digitally savvy customers.
Nabil Bank Gen-N Account
Key Benefits
The Gen-N Account provides a variety of attractive benefits. First, customers get free Visa debit and credit cards for the first year. These cards come with modern features, including contactless payments.
Additionally, users enjoy free access to nBank Mobile Banking and Internet Banking for one year. This allows convenient banking anytime and anywhere, without extra charges.
Opening the account requires no minimum deposit. This lowers the barrier to entry and encourages more youth to join the banking system.
Furthermore, the account includes free Demat and MeroShare services during the first year. These help young investors begin their journey in the stock market easily.
Insurance Coverage: Added Protection At No Extra Cost
One major highlight of the Gen-N Account is its insurance package. Nabil Bank has partnered with MetLife (American Life Insurance Company Limited) to provide coverage for 13 critical illnesses. This comes with no extra cost to the customer.
If an account holder is diagnosed with any of these illnesses, they receive a lump sum of NPR 300,000. The account also offers term life insurance coverage of NPR 75,000, payable on death except in cases of suicide.
The claim process is simple. Customers don’t need to submit medical bills, and all insurance costs are covered by the bank.
Eligibility Criteria For Insurance Benefits
To qualify for insurance benefits, the account must be an individual savings account; joint accounts do not qualify. Customers must maintain a daily minimum balance of NPR 100,000 throughout a Nepali deposit month.
If the balance criteria are met, insurance coverage begins in the next Nepali month. Eligible customers must be between 16 and 64 years of age.
Additional Features Enhancing Customer Experience
The Gen-N Account offers more than just insurance and free banking. Customers enjoy a 50% discount on swift transfers and demand drafts, reducing transaction costs significantly.
The account also allows free e-commerce transactions within Nepal. Re-registration for Nabil e-secure, the bank’s e-commerce security service, is free, promoting safe online shopping.
Nabil Bank provides preferential interest rates on education loans. This helps students and parents fund higher education affordably.
Moreover, credit cardholders can convert their purchases into easy installments using Nabil Installment Loan facilities.
Customers also benefit from the free issuance of account statements, cheque books, and balance certificates.
Important Information About Card Fees
While the first year’s Visa credit and debit cards are free, fees apply starting the second year. To waive the credit card subscription fee, customers must spend a minimum of NPR 100,000 annually on purchases and e-commerce.
For the debit card, customers can avoid the subscription fee by maintaining an average annual balance of NPR 40,000.
Who Can Open The Gen-N Account?
The Gen-N Account is targeted toward Nepalese citizens aged 18 and above. The account opening process is straightforward. Applicants need to submit a completed account opening form, a citizenship certificate or passport, and a passport-sized photograph.
Why Choose Nabil Gen-N Account?
This account fits the needs of young Nepalese perfectly. It offers flexibility with no minimum deposit. It supports digital banking through mobile and internet platforms, allowing transactions at any time.
The account also encourages investment through free Demat and MeroShare accounts. It provides insurance coverage, which brings financial security.
Additionally, the account reduces banking costs with free and discounted services.
Conclusion: A Smart Choice For Young Savers
Nabil Bank’s Gen-N Account offers a modern banking solution that aligns with the new generation’s lifestyle. It combines digital convenience, financial security, and cost benefits in one package.
By maintaining the required balance, customers enjoy insurance protection along with other benefits. This account helps young Nepalese save, invest, and spend wisely.
Open a Nabil Gen-N Account today and experience banking that understands your lifestyle and financial goals.
For more: Nabil Bank Gen-N Account