1. What is Super Chamatkarik Fixed deposit account and who can open this account?

Super Chamatkarik Fixed Deposit Account is a specific product targeted for individual and institutional customers with attractive interest rate of along with quarterly interest payment. The main target of the product is to solicit fixed deposit from individual and institutions. This account can be opened by any individual whether singly or joint or institution.

2. Why to open Super Chamatkarik FD account in NIC ASIA Bank?

In the history of banking industry in Nepal, NIC ASIA has launched the Super Chamatkarik FD accounts for its existing and new customers with the family insurance of up to1.315 Crore which is the main features of Super Chamatkarik FD accounts.



3. What are the various general features of the account?

Super Chamatkarik Fixed Deposit has following features:

Features

Silver

Gold

Diamond

Minimum Balance (in Rs.)

100,000

1,000,000

2,500,000

Tenure of Fixed Deposit

3 months to 1 year

3 months to 1 year

3 months to 1 year

Interest Rate

Individual :9.25%

Institutional:

8.50% (Fresh)

8.60% (Renewal)

Individual :9.25%

Institutional:

8.50% (Fresh)

8.60% (Renewal)

Individual :9.25%

Institutional:

8.50% (Fresh)

8.60% (Renewal)

For Individual Fixed Deposit with tenure of 6 months to 1 year (Only for Nepalese citizen)

Accidental Death Insurance/Permanent disability

Coverage of Rs. 40 lakhs.

- 4 times of monthly average balance or 10 lakhs for each family member whichever is lower.

Coverage of Rs. 60 lakhs.

- 15 lakhs for each family member.

Coverage of Rs. 1 Crore.

- 25 lakhs for each family member.

Critical Illness

Coverage up to Rs. 20 lakhs for a couple.

- 4 times of monthly average balance or 10 lakhs for each whichever is lower.

Coverage up to Rs. 20 lakhs for a couple.

-10 lakhs for each

Coverage up to Rs. 30 lakhs for a couple.

-15 lakhs for each

Medical Insurance

NA

NA

Up to Rs. 1.5 lakh for family

(Hospitalization case only)

4. What are the product variants?

Super Chamatkarik Fixed Deposit comes with three variants: Silver, Gold and Diamond. The product variants have been introduced for customer segmentation. Silver category represents base product; gold category represents medium product whereas diamond category is premium product. The features and benefits shall be available based on the customer segment.

5. What is the minimum balance to open Super Chamatkarik Fixed Deposit?

Minimum balance requirement as per the category of customers;

§ Super Chamatkarik Fixed Deposit Silver : NPR 100,000

§ Super Chamatkarik Fixed Deposit Gold : NPR 1,000,000

§ Super Chamatkarik Fixed Deposit Diamond : NPR 2,500,000

6. What are documents required to open an account under super Chamatkarik Fixed Deposit scheme?

Documentation for opening account for individual Customers

· Duly filled up Bank's standard Account Opening Form (FD Account Opening Form,

Saving/Current account opening form (for new customer only), Loan against FD along with KYC information / details.

· Recent Passport size photographs

· Copy of citizenship certificate

Additional Documentation for opening account of a minor:

· Duly filled up KYC information / details of guardian / parents

· Recent passport size photographs of each of the minor and the guardian.

· Birth Registration Certificate

· Copy of Citizenship Certificate/Passport for Guardians/Parents

· No Objection letter of Parents or a relationship certificate if guardian is other than one of the parents of the minor.


Documentation for opening account for institutional Customers

· Company/institution Registration Certificate

· Tax/PAN Certificate of Certificate of incorporation

· Memorandum of Association.

· Article of association

· Board Resolution to open & operate account

· Name & Signatures of the Persons Authorized to Operate an account

· Copy of Valid Identity Document(s) and photograph(s) of the authorized signatories


7. If a customer has opened multiple fixed deposits of same category, is the customer eligible for multiple claim?

No, customer is eligible for only one claim with the highest benefit.

8. Customer has opened several fixed deposits in joint account. Is customer eligible for multiple claim?

Yes, customers are eligible for multiple claims in case of joint account in proportionate basis.

9. Is withholding tax (TDS) deducted in the interest on Super Chamatkarik fixed deposits, if so what is the rate?

Yes, withholding tax is deducted @5% on interest credited to the account of customers.

10. Are there any account maintenance fees under Super Chamatkarik Fixed deposit schemes?

No there is no any account maintenance fees


11. Are all customers eligible for insurance?

No, insurance shall be available only for fixed deposits opened for a minimum period of 6 months and above

12. What is the minimum tenure of fixed deposit?

Super Chamatkarik FD can be opened for minimum period of 3 months and for maximum period of 1 year.

13. Is fixed deposit auto-renewable?

Yes, FD under this product is auto renewable. For example: if a customer opens an FD for 3 months and instruct the branch for auto renewal, then such FD shall be automatically renewed on their maturity for a fresh tenure of previous FD i.e. 3 months. And it will continue until and unless stopped by the customer


14. How can customer avail of the ‘waiver charges’ benefits on debit card/mobile banking & i-touch?

The waiver shall be provided automatically once account is opened successfully. You need not fill separate form for the same.

Accidental Death insurance/permanent disability

1. How will customer claim for Accidental Death Insurance?

Legal heir of the customer shall notify the Branch with written application and required documents on case to case basis as defined below:

a) In case of accidental death (spot death)

· Police report (Sarjiwani muchulka)

· Death certificate

· Relationship certificate

· Postmortem report

· Citizenship certificate copy of accountholder and legal heir

· Recommendation for payment from CDO to legal heir

· Branch shall further, issue letter mentioning accidental death of accountholder with account number, average monthly deposit and legal heir name to insurance company in our letter head.

· Additional documents if any asked by Insurance company.

b) In case of accidental death (after hospitalization) additional document required is as below apart from documents mentioned in (a):

· Discharge summary/death certificate

c) In case of permanent total disablement:

· Letter from bank notifying the medical claim with account number, accountholder’s name and average monthly deposit.

· Prescription/ Verification from hospital of permanent disablement

· Original Medical Bills

· Lab reports

· Discharge paper

· Photograph of customer verifying the permanent disability (if available)

Critical Illness coverage

1. How many diseases are covered in Critical Illness?

Total 25 diseases are covered in critical illness.

2. What are the diseases covered under Critical Illness Insurance?

The diseases covered under critical insurance are as follows:

i. Cancer of Specified Severity

ii. Coronary Artety Disease Requiring Surgery

iii. Other Serious Coronary Artery Disease

iv. First Heart Attack of Specified Severity

v. Cerebro Vascular Resulting Permanent Neurological Sequeale

vi. Kidney Failure Requiring Regular Dialysis

vii. Major Organ Transplant

viii. Stroke Resulting in Permanent Sysmptoms

ix. Permanent Paralysis

x. Open Heart Replacement

xi. End Stage Liver Disease

xii. Loss of Speech

xiii. Major Burns

xiv. Coma of Specified Severity

xv. Alzheimer’s Disease Before the Age of 50 Years

xvi. Parkinson’s Disease Before the Age of 50 Years

xvii. Deafness

xviii. Multiple Sclerosis with Persisting Symptoms

xix. Benign Brain Tumor

xx. Blindness

xxi. Bone Marrow Transplant

xxii. Fulminant Viral Hepatitis

xxiii. Repair of Heart Valves

xxiv. Acute Myocardial Infraction

xxv. Paralysis of Limbs

3. What is waiting period for Critical Illness?

The critical illness coverage for eligible saving accountholders commences only after the 30 days from such account opening date or scheme transfer date. It means, during such period, there should not be any symptom of critical illness to the account holder.

4. What is the age limit for claimant of Critical illness insurance?

18 to 60 years.

5. In how many days Insurance company will pay the claim?

Except for exceptional cases, claim payment shall be complete within 7 days of receipt of all required claim related documents.

6. When can customer claim the critical illness insurance coverage?

The customer after submitting the diagnosis report of having critical illness shall get the assured amount of critical illness as per the customer category.

7. Will any customer be insured if s/he is already a patient of any above mentioned 18 disease of Critical Illness ?

Customer should declare regarding any pre-existing critical illness in the insurance proposal form. Apart from the declared illness or pre-existing illness, customers are insured for other critical illnesses.

8. Where do customers need to submit the documents related to insurance claim?

Customers have to submit all the required documents to the nearest branch of the Bank and Bank shall initiate the claim processing with its Insurance Partner.