Student Savings

Student Savings

A Student’s saving account is useful in aiding students to save money according to their needs and work towards their own financial independence. It is extremely important for students to have a savings account as it will aid them during the course of the education.

Student Savings
3.01 %
Total Interest Rate

Last Updated Date: May 17, 2022

Nabil Bank Ltd

Nabil Bank Limited is the first private sector bank in the nation and has been operating since July 1984. With the aim of expanding the international standard of modern banking services to different segments of society, Nabil was integrated. In pursuing its goal, through its 118 points of representation, Nabil Bank offers a full range of commercial banking services. In addition to this, Nabil has a presence throughout the nation through over 1500 Nabil Remit agents. As a leader in the introduction of many revolutionary products and marketing concepts in the domestic banking industry, Nabil started a period of modern banking with customer loyalty calculated as a focal target while doing business. A highly skilled and seasoned management team oversees the bank's affairs, including day-to-day affairs and risk management. The bank is completely equipped with advanced technology, including international standard banking applications enabling e-channels and e-transactions. For all its stakeholders, clients, shareholders, regulators, societies, and employees, Nabil is going forward with a vision to be the 1st option provider of full financial solutions. Nabil is committed to providing its stakeholder's excellence in a variety of areas, not just one measure, such as profitability or market share. It is mirrored in its Together Ahead Brand Pledge.

Student Savings


Documents Required for Students Saving Account:

  1. Personal Account Opening Form
  2. Birth Certificate for Minor Account Holder and Identification Documents (Citizenship/Valid Passport) issued by Government of Nepal in case of Major account holder
  3. Duly filled KYC form of the Parents/Legal guardians in case of Minor account
  4. Two recent Passport (PP) size photographs of the account holder
  5. Two recent Passport (PP) size photographs of Parents/Legal guardians in case of Minor account
  6. Valid Student Identification card
  7. Location of the Current address

What Is Student Saving Account ?

Student bank accounts often have the same basic structure as the institution's typical offerings, but they reflect the fact that students have a relatively small income, and are just learning money management and how to navigate their financial lives. That's why student accounts may waive maintenance fees or minimum balances, offer free ATM withdrawals, or even provide apps or programs to help a newbie create a budget. Student accounts are generally available to anyone who is enrolled in school full-time, although some accounts are age-limited as well. The right account will offer students the flexibility, convenience, and affordability they need to keep their mind on their studies, rather than worrying about fees and other financial details. Student savings accounts allow parents to withdraw their children from public district or charter schools and receive a deposit of public funds into government-authorized savings accounts with restricted, but multiple uses. Those funds—often distributed to families via debit card—can cover private school tuition and fees, private tutoring, community college costs, higher education expenses, and other approved customized learning services and materials. 

Who can have a student bank account?

Each bank has slightly different rules about who will qualify for their student bank account. As a general rule, if you’re studying full-time for a degree, a degree-equivalent, or a postgraduate course, you should qualify. However, some banks will accept people who are on non-degree or other higher education courses – so if you're in any doubt about whether you qualify, check with the bank. you can apply for an overdraft once you turn 18. Part-time students are less likely to qualify, as they're usually able to work full-time while they study. So you may want to check with your learning institute to see what financing options you have to help you along the way.

What are the advantages of a student bank account?

The advantage of a student bank account is that it's specifically designed for the needs of students, and to make the financial side of university lifeless of a trial. The main benefits of a student bank account are the interest-free overdraft options that many of them come with. While you study, your overdraft will be interest-free up to an agreed limit, which in some cases increases incrementally for every year of study. After you graduate, you will start paying interest on some or all of the balance of your overdraft. Student bank accounts also have other perks, like exclusive discounts, free gifts, and dedicated student finance advisors. Some student bank accounts will have interest-free overdrafts for the duration of your degree and for a period after you graduate, allowing you time to pay it off once you start working. You should make sure you pay this off as soon as possible to manage your debt and avoid any unnecessary interest payments.

Products You May Like