23rd July 2025, Kathmandu
In a significant move set to redefine retail banking in Nepal, Kumari Bank Limited has unveiled its innovative new savings product: the ‘Pariwar Surakshya Bachat Khata’. This unique offering is meticulously designed not just as a conventional savings account but as a comprehensive holistic protection plan aimed at enhancing financial inclusion and ensuring the welfare of families across the nation. By seamlessly integrating robust digital banking features, attractive insurance coverage, and a suite of family-centric facilities, this account stands out as a pioneering initiative in Nepal’s highly competitive banking sector.
Pariwar Surakshya Bachat Khata
Accessible Entry, Expansive Family Protection: Key Features & Benefits
The Pariwar Surakshya Bachat Khata is notably accessible, requiring a minimum balance of just NPR 10,000. This low entry barrier ensures that a broad spectrum of Nepali households can leverage its extensive benefits, which far exceed those typically offered by standard savings accounts.
One of the most compelling aspects of this new product is its substantial insurance coverage, totaling up to NPR 26 lakhs under various critical heads. This comprehensive protection provides a vital safety net for families in unexpected circumstances:
Accidental Death or Permanent Total Disability (PTD): Beneficiaries are entitled to receive a significant payout of NPR 24 lakhs in the unfortunate event of accidental death or permanent total disability. This immediate financial support can be crucial for families facing sudden loss or life-altering events.
Medical Insurance (Hospitalization): The account includes medical insurance coverage of NPR 1 lakh for hospitalization expenses. This provision aims to ease the financial burden associated with medical treatments, making quality healthcare more accessible.
Critical Illness Coverage: An additional NPR 1 lakh is provided for critical illnesses, offering financial assistance during severe health crises that often entail high medical costs.
Kumari Bank has also designed the waiting periods for insurance claims with customer convenience in mind. There is no waiting period for accidental death or PTD claims, ensuring immediate relief when it’s needed most. For hospitalization-related medical insurance, claims become valid after 30 days from the account opening date, while a 90-day waiting period applies for critical illness claims, calculated from the date of account activation. These clear guidelines ensure transparency and predictability for policyholders.
Embracing Digital Convenience: Free Banking Services
Recognizing the escalating demand for digital banking solutions, Kumari Bank has equipped the ‘Pariwar Surakshya Bachat Khata’ with a full spectrum of modern banking conveniences. For the first year of account operation, Mobile Banking and Internet Banking services are offered completely free of charge. Standard Tariff Chart (STC) rates will apply from the second year onwards.
Similarly, account holders receive a free debit card for the first year, facilitating seamless daily transactions, purchases, and cash withdrawals. Adding to the convenience, the bank provides the invaluable benefit of free cash withdrawals from any ATM across Nepal. This eliminates extra charges often incurred when using other bank ATMs, offering unparalleled flexibility and cost savings for customers who travel or operate in various regions of the country.
Enhanced Security and Additional Value-Added Facilities
Beyond core banking and insurance, the ‘Pariwar Surakshya Bachat Khata’ extends its value proposition through several additional facilities designed for family security and financial growth:
Free Locker Facility: For the initial year, account holders are granted a free locker facility, with subsequent fees determined by the bank’s standard tariff chart. This feature is particularly beneficial for families seeking a secure place to store important documents, jewelry, or other valuables.
Demat and Mero Share Access: Customers can easily access Demat and Mero Share services as per the bank’s STC. This provision empowers account holders to participate effortlessly in Nepal’s thriving capital market, managing their investments directly through their banking platform.
It is crucial for potential applicants to note that the ‘Pariwar Surakshya Bachat Khata’ is designed as a strictly individual account, meaning joint accounts are not permitted under the terms and conditions of this specific scheme. This ensures clarity in insurance payouts and benefit management.
Streamlined Application Process
Required Documents and Eligibility
To ensure a smooth and efficient application process, and to facilitate the extension of benefits to the entire family unit, customers are required to submit a comprehensive set of documents:
Primary Identification: A copy of their Citizenship Certificate or a valid Passport, along with their National Identity (NID) Card or NID Number.
Proof of Identity: A recent passport-size photo.
Mobile Verification: A mobile number verification screenshot is required for Nepalese mobile users to ensure secure digital access.
Furthermore, for married applicants, additional documents are mandated to extend the holistic benefits to their families:
- Spouse’s citizenship certificate
- Marriage certificate
- Birth registration certificates for all children (if any)
These additional requirements underscore Kumari Bank’s commitment to providing comprehensive family protection, ensuring that benefits are genuinely extended to the entire household rather than being limited solely to the individual account holder.
The age eligibility for opening a ‘Pariwar Surakshya Bachat Khata’ is set broadly from 18 to 70 years. This wide age range ensures that diverse demographics, from young working professionals and active parents to senior citizens—can take full advantage of this unique package.
Competitive Interest Rates and Transparent Terms
The interest rate offered on the Pariwar Surakshya Bachat Khata is designed to be competitive and remains aligned with Kumari Bank’s prevailing deposit rates. Prospective account holders are encouraged to visit Kumari Bank’s official website for the most up-to-date information on interest rates. It is also important to remember that all facilities and benefits under this innovative scheme are subject to the bank’s standard terms and conditions.
Conclusion: A Pioneering Step in Nepali Retail Banking
In conclusion, Kumari Bank’s ‘Pariwar Surakshya Bachat Khata’ transcends the conventional definition of a savings account. It emerges as a meticulously crafted financial safety net, thoughtfully designed with the specific needs and aspirations of the Nepali family in mind. By offering an unparalleled blend of substantial insurance coverage, modern digital banking services, and robust family-oriented benefits, this account positions itself as a truly pioneering and transformative product in Nepal’s evolving retail banking landscape. It promises not just financial growth but also invaluable peace of mind for countless Nepali households, marking a significant stride towards greater financial security and inclusion.
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