Kathmandu: Nabil Bank Limited offers the Nabil USD Special Savings Account, a foreign currency deposit solution designed specifically for individuals with verifiable sources of foreign currency income. The account allows eligible customers to maintain savings in US dollars while earning interest and accessing a range of domestic and international banking services.
The account is designed for individuals who qualify under the foreign exchange regulations of Nepal Rastra Bank and Nabil Bank. Eligible applicants include professionals earning foreign currency income, freelancers working with international clients, non-resident individuals, and foreign nationals legally residing in Nepal.
Account Eligibility and Required Documents
Individuals interested in opening a Nabil USD Special Savings Account must submit a fully completed and signed original account opening application form.
Applicants are also required to provide valid identification documents, such as a passport or citizenship certificate, recent passport-sized photographs, and official supporting documents verifying their legitimate foreign currency income sources.
Acceptable income verification documents include employment contracts, salary slips, foreign remittance receipts, and consultancy agreements.
Minimum Deposit and Interest Rates
The Nabil USD Special Savings Account requires a minimum initial deposit of USD 500 to open and maintain the account. The initial deposit of USD 500 will be held under lien by the bank as a minimum balance reserve throughout the active duration of the account.
Interest will be provided on the deposit according to the periodic foreign currency interest rate schedule published by Nabil Bank in compliance with applicable regulatory directives.
Banking Facilities and Additional Services
Account holders can access a range of banking facilities designed to simplify the management of foreign currency deposits.
Customers can request official account statements to review their transaction history and meet tax filing or other administrative requirements. The bank also provides cheque books for direct account payments and withdrawals.
Additionally, account holders can obtain official foreign currency balance certificates for administrative and other official purposes. Safe deposit locker facilities are also available upon request at designated Nabil Bank branches, subject to availability.
Digital Banking and International Card Benefits
Nabil Bank provides several digital banking and card-related benefits to customers holding the USD Special Savings Account.
Account holders receive complimentary access to the nBank mobile banking application for the first year of account activation. They are also provided with full access to the nBank Web internet banking platform without any service charges.
Customers are eligible for a 25% discount on the total subscription fee for an International Visa Electron Debit Card, along with a complete waiver of the first-year subscription fee.
Similarly, Nabil Credit Card users receive a 25% discount on the total subscription fee, including a complete waiver of the first-year subscription fee.
Discounts on International SWIFT Transfers
The account also provides benefits for international money transfers through the SWIFT network. Customers receive a 50% discount on standard SWIFT transfer service fees. However, a minimum service charge of NPR 300 applies to each transfer.
These benefits are designed to support customers who regularly receive or transfer foreign currency and require convenient access to international financial services.
Supporting Foreign Currency Savings and Global Transactions
The Nabil USD Special Savings Account provides eligible foreign currency earners with an option to maintain US dollar savings in Nepal while accessing interest earnings and various banking facilities.
By combining foreign currency deposits with digital banking access, discounted international card services, and reduced SWIFT transfer fees, Nabil Bank aims to facilitate the management of foreign currency income and international transactions for eligible customers.
