EDUCATION PLAN

Your child deserves one education plan that grows along with your child.
As a parent your responsibilities to your child are many. We understand how important education is in your priority list. NMB Bank Education Plan is a recurring plan, designed to help you save for your child’s financial need of the future. Make yourself a proud parent today and tomorrow.
Features:
  • Plan period of 3 to 15 years
  • Eligible age 0 to 12 years
  • Interest rate: Link
  • e-banking Facility
  • Free Mobile Banking Subscription
  • Facility to transfer monthly deposit from parents to child’s account
  • Discount on Education Loan interest and processing fee
  • Minimum monthly deposit Rs. 500
  • Fixed Rate of return on your deposit
Requirements:
  • Completely filled Personal Account Opening Form
  • Birth certificate
  • Parents account compulsory
  • Copy of citizenship certificate of parent
  • One passport size photograph of parent and child
FAQs
  • What happens if I don’t pay an installment?
Ans: In case you do not pay an installment, it becomes due. You can pay it along with the next installment. If you fail to pay the installment for 3 months, your account will be closed.
  • Can my Recurring Deposit be opened in joint names?
Ans: No, it cannot be opened in joint names.
  • What is the maximum deposit amount a Recurring Deposit account can be opened with?
Ans: The minimum amount is NPR 500, whereas there is no limit to the maximum amount.
  • Can I pay more than one installment at a time?
Ans: Yes, if you wish to pay more than one installment at a time, you can do so only by visiting the Bank.
  • Is an overdraft facility allowed?
Ans: No, an overdraft facility is not allowed in this account.
  • Can I choose my installment date?
Ans: No, you cannot choose the installment date. It is the 5th of every month as per the Gregorian calendar.