Prabhu Salary Savings

Prabhu Salary Savings

The salary saving account is dedicated to the employees of institutions/firms/ companies where the salary will be deposited directly to the bank. It targeted to Employees of Institution /Firm/ Companies where the salary will be deposited directly to the Bank.

Prabhu Salary Savings
6.03 %
Total Interest Rate

Last Updated Date: May 17, 2022

Prabhu Bank Ltd

In 2016, after the merger of Grand Bank Nepal Limited, Kist Bank Ltd., Prabhu Bikash Bank Ltd., Gaurishankar Development Bank Ltd. and Zenith Finance Ltd., Prabhu Bank Limited was created. Prabhu Bank Limited has taken part in the A class financial institution status. The mission of Prabhu bank Limited is to become Nepal 's leading commercial bank by providing their customers with the highest quality financial products and services.

Prabhu Bank Limited has undertaken activities such as various deposit schemes, loans and advances, foreign exchange facilities, trade finance, inward / outward remittances, government securities market makers, non-funded services such as issuing guarantees, letters of remittances,, with the goal of supporting individuals, families. Prabhu Bank maintains that it is only when its customers thrive that a bank succeeds.

One of the key aims of the bank is to reach out to ordinary citizens with a host of helpful products and services to ensure their future prosperity. The bank has achieved a considerable degree of success in pursuing this goal within a relatively short period of time, thus building a substantial base of loyal customers.

Prabhu Salary Savings

REQUIRED DOCUMENTS

Documents Required for Salary Saving account :

  1. Duly filled Personal Account Opening Form
  2. Authorized Letter from employing organization requesting to open salary account
  3. Identification documents such as Citizenship Certificate /Valid Passport issued by Government of Nepal
  4. Two recent Passport (PP) size photographs of the account holder
  5. Identification documents of Nominee along with PP size photograph of the Nominee
  6. Duly filled KYC form (as requested by Banks)
  7. Any other documents specified by Banks

What Is Salary Saving Account? 

A Salary Account is an account to which your salary gets credited. Usually, banks open these accounts on request of corporations and major companies. Each employee of the company gets their own Salary Account which they are required to operate on their own. When the time comes for the company to pay its employees, the bank takes the money from the company’s account and then distributes it to the employers accordingly. The salary saving account is dedicated to the employees of institutions/firms/ companies where the salary will be deposited directly to the bank. It is targeted to the employees of institution /Firm/ Companies where the salary will be deposited directly to the Bank.

Who can open the account?

A corporate Salary Account can be opened by an individual whose company has a salary relationship with us. A Salary Account is created by the employer. The purpose of the Account is such that it makes sense for the employer to be the one who creates it. In contrast, anyone can open a Savings Account. You can choose from various Savings Account variants here. In case of the latter, if you have not closed down or converted any previous Salary Account after switching employers, then be sure to do so, else banks will charge a maintenance fee or a penalty on not maintaining a minimum balance on these now converted Savings Accounts.

Benefits of a Salary Account

A Salary Account offers more benefits (compared to savings account) as it is more profitable to the bank due to its nature of receiving a fixed amount of money every month. The benefits that a Salary Account holder receives, may vary from bank-to-bank. Within a single bank too, there may be different types of Salary Accounts offering various benefits. However, there are certain common benefits that come with a Salary Account – zero minimum balance, free cheque book / passbook / e-statements, Debit Cards, NetBanking, Phone Banking, online fund transfer, Demat Account/services, loan conveniences, Credit Card offers, utility bill payments, etc.

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