Savings

In order to expand community participation and to extend the programme and the scope of the institute, it has been conducting limited banking transaction successfully since 2054 B.S., Ashwin after receiving license from Napal Rastra Bank. To attract more community participation and social organizations, VYCCU has been offering competitive interest rate and conducting the following programme.

1. Monthly Saving

   According to the by-law of the institute, any citizen of 16 years of age living within the jurisdiction of the institute can take part in this saving scheme.

It requires:

• Buying of at least 1 share at Rs.100.
• Saving at least Rs.50 monthly
• Permitted to save more than the minimum amount
• Compound interest to be offered half-yearly on the saved amount
• Entitle to the dividend offered by the institute
• Can withdraw the saved amount anytime without any difficulty
• After six months if membership, loan can be obtained for any work
   

2. Piggy bank saving

   To collect the unnecessarily wasted money in the house, this programme has been conducted in the following way:

• The institute provides a piggy bank to the person interested to take part in this programme.
• Once a month, the saved amount is collected by the person of the institute from home in the presence of the depositor and that money is transferred to the account book of the depositor.
• The saved amount can also be withdrawn anytime easily
• Interest is offered on half-yearly has is on the saving
   

3. Daily saving

To help the people who run daily income generating business to expand their business, this type programme has been conducted.

It includes:

• Can save the desired amount by staying at home
• Interest is offered half-yearly on the saving
• Saved amount can easily be withdrawn from home or by visiting the bank
• Minimum Rs.10 to be deposited daily and even more can be deposited
• After six months, loan can be obtained to expand business
• Collateral fixed asset is not mandatory while obtaining loan
   

4. Optional saving

To keep pace with today's technological world, economy should also be reformed and modified by each and everyone. All the people try to balance their personal income and expenditure. This programme allows one to deposit and withdraw any amount of money anytime.

It requires:

• Only NRs. 300 is needed to be deposited while opening an account.
• Desired amount can be deposited and withdrawn anytime.
• Extra charge not required to get a cheque book.
• Transaction allowed till 2; 30 even on Fridays.
• Interest to be offered every six months.
   

5. Fixed account|
    

• In today's world, everyone wants to feel safe and wants to stay safe. So searching for a safe spot to save the income is quite natural. To fulfill this desire of the individual, this programme has been conducted.

         Duration                             Interest rate (annually)

1 year                                     9.5 percent

2 year                                     10 percent

3 year                                     11 percent