19th May 2025, Kathmandu
Nabil Bank has introduced the Jestha Bachat Account, a specially designed savings account aimed at individuals aged 50 and above. This account provides monthly interest rate payments, exclusive privileges, and free critical illness and term life insurance coverage.
Nabil Bank Jestha Bachat Account
The initiative supports senior citizens in managing their finances independently while ensuring peace of mind.
Financial Independence with Monthly Interest Rate Payments
The Jestha Bachat account focuses on offering consistent financial returns to its senior customers. Unlike regular accounts that credit interest rates quarterly or annually, this account pays interest rates monthly. This steady income stream helps account holders cover daily expenses and enjoy their retirement years comfortably.
Moreover, there is no minimum deposit required to open the account. This feature makes it accessible to all senior citizens looking to secure their financial future without any hefty initial investment.
Exclusive Discounts and Banking Privileges
Apart from the monthly interest rates, Nabil Bank provides several exclusive benefits for Jestha Bachat account holders. These perks aim to reduce banking costs and improve convenience:
Swift Transfers and Demand Drafts: Account holders receive a 50% discount on charges related to swift transfers and demand drafts. This makes fund transfers and payments more affordable.
Locker Facility: Customers get a 25% discount on annual locker charges, subject to availability. This secure option helps protect valuable items.
Free Account Statements, Cheque Books, and Balance Certificates: These essential banking services are offered without additional fees.
Digital Banking: Nabil Bank provides free access to nBank Mobile Banking for the first year and complimentary internet banking through nBank Web. Senior customers can manage their accounts anytime and anywhere without extra costs.
Comprehensive Insurance Coverage for Added Security
One of the standout features of the Jestha Bachat account is the free insurance coverage offered by Nabil Bank. In partnership with MetLife (American Life Insurance Company Limited), the bank provides critical illness (CI) and term life (TL) insurance at no cost to the account holder.
This insurance package helps senior citizens prepare for unforeseen health issues or unfortunate events, enhancing their financial security:
Critical Illness Coverage: The account provides a lump sum of NPR 300,000 upon diagnosis of any of 13 critical illnesses. These include major cancers, heart attack, kidney failure, strokes, serious coronary artery disease, and more.
Term Life Coverage: The account also offers NPR 75,000 term life insurance coverage. This benefit is paid out in the event of death from any cause other than suicide.
Nabil Bank pays the entire insurance premium, so customers don’t bear any extra financial burden. The claim process is straightforward, requiring no extensive medical documentation, which reduces stress during difficult times.
Who Can Open a Jestha Bachat Account?
The account is exclusively for individuals aged 50 years and above. To open the account, customers must provide:
A completed account opening form
Citizenship certificate or passport
Passport-size photograph
For insurance eligibility, account holders must maintain an individual savings account with Nabil Bank (joint accounts are excluded). They also need to keep a daily minimum balance of NPR 100,000 throughout a Nepali month to qualify for insurance benefits in the following month. Age criteria for insurance coverage are between 16 and 64 years.
Important Insurance Details and Requirements
New Jestha Bachat account holders with a balance of NPR 100,000 or more at month-end become eligible for insurance coverage from the date of account opening.
To maintain insurance coverage, the minimum balance must be sustained each subsequent month.
In case of the account holder’s death, term life insurance pays a lump sum to the designated beneficiary.
Critical illness claims are subject to a 5% government tax deduction, while term life claims are exempt from tax.
How to Open Your Nabil Jestha Bachat Account
Opening the Jestha Bachat account is simple. Prospective customers can visit any Nabil Bank branch and meet a customer service representative for assistance. Alternatively, they can download the account opening form from the bank’s website, fill it out, and submit it along with the necessary documents at their preferred branch.
Conclusion: A Secure and Convenient Financial Solution for Seniors
Nabil Bank’s Jestha Bachat account offers senior citizens more than just a savings option. It empowers them with financial independence through monthly interest rate payments, lowers banking costs with exclusive discounts, and provides critical insurance coverage at no extra charge.
This initiative reflects Nabil Bank’s commitment to supporting Nepal’s senior population. By addressing their unique financial needs and providing peace of mind, the bank is helping to create a brighter and more secure future for the golden generation.
Open your Nabil Jestha Bachat account today and step confidently into your golden years with financial stability and unmatched benefits.
For more: Nabil Bank Jestha Bachat Account