Siddhartha Platinum Plus Saving Account

Siddhartha Platinum Plus Saving Account

Premium Saving Account is a deposit scheme designed to cater the saving needs of individuals. The main concept behind the Premium Savings Account is to accommodate the individuals who have deposits in higher volume for saving and expect high interest with all the banking facility.

Siddhartha Platinum Plus Saving Account
8.03 %
Total Interest Rate

Last Updated Date: May 16, 2022

Siddhartha Bank Ltd

Founded in 2002 and promoted by prominent Nepalese celebrities, Siddhartha Bank Limited (SBL) is today one of Nepal's steadily growing banks. Although the promoters come from a wide range of industries, they have tremendous market knowledge and share their valuable insights with the Bank in order to develop it. Siddhartha Bank has been able to come up with a wide variety of products and services that best serves its clientele within a short period of time. Since the beginning of its operations, Siddhartha Bank has been consistently reporting growth in its portfolio size and profitability. The administration of the bank is highly competent. In order to become one of the most promising commercial banks in the world, Siddhartha Bank has been able to gain substantial confidence from clients and all other stakeholders. The Bank is completely committed to the satisfaction of customers. An indication of its dedication to customer satisfaction is the variety and scope of modern banking products and services that the Bank has offered. It is this dedication that helped the Bank record quantum growth each year. The Bank is positive and optimistic that it will be able to preserve this trust and step even further towards its goal of being one of the industry's leading banks.

Siddhartha Platinum Plus Saving Account

REQUIRED DOCUMENTS

Documents Required for Premium Saving Account

  1. Personal Account Opening Form
  2. Identification documents such as Citizenship Certificate /Valid Passport issued by Government of Nepal
  3. Birth Certificate (in case of Minors) along with legal identification documents of the parents/guardians who will operate the account
  4. Two recent Passport (PP) size photographs of the account holder
  5. Legal Identification documents along with PP size photograph of the Nominee
  6. Duly filled KYC form
  7. Any other documents specified by banks


What is a Premium Bank Account?

Premium savings accounts are specialized savings accounts that offer improved and enhanced banking features and customized services. These types of accounts are best suited for people that have an extreme paucity of time, need premium services or require relaxed and customized norms.As cash deposits and withdrawals of Rs 10 lakh or more in a bank account in a financial year are required to be reported to the tax authorities, you need to be careful if you are exceeding the prescribed threshold. This limit is Rs 50 lakh and more in case of current accounts.These accounts reward you for meeting high minimum balance requirements and/or for relationship banking having multiple accounts with the same financial services provider, like checking or savings accounts, credit cards, loans or investments. Sometimes premium checking and savings accounts are packaged together.

What are the benefits and drawbacks of premium bank accounts?

Premium bank accounts offer some advantages that you might find valuable. Certain benefits are available for free or at a discount with a premium bank account, while they might cost a fee  or be inaccessible with a basic checking or savings account.Common perks of a premium bank account include:

Lower or waived fees:

 Premium bank accounts typically waive some or all fees for out-of-network ATM use, and some waive or discount fees on cashier’s checks, money orders, wire transfers, investment accounts and more. Some premium accounts also waive fees on foreign exchange rate adjustments on ATM withdrawals outside the U.S.

Higher limits: 

Many premium accounts offer higher limits on deposits and transfers. You might also have higher limits on daily purchases and ATM withdrawals.

Discounted loan rates: 

Personal loans, home loans and lines of credit could come at a better rate than you’d get with a basic account.

Free financial advice: 

Some premium accounts offer complimentary financial guidance or investing advice.

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