Kumari Bank Retirement Fund


    Kumari Bank Retirement Fund (Erstwhile NCC Bank Retirement Fund) is a participating, hassle free retirement plan that provides guaranteed financial protection for your second innings which also build your retirement corpus through periodic bonus earning. The plan is equipped to create a financial safety net around you and protect you from all the undesirable elements attached with old age.

    Kumari Bank Retirement Fund (KBRF) is offering following uniquely tailored products and services to the valued customer since 2003.

    • Provident Fund 
    • Retirement Fund
    • Gratuity Fund
    • Leave Encashment Fund

    All facilities are available through entire branch network of Kumari Bank Ltd.

    Key Features of Schemes.

    • Provident Fund & Retirement Fund accounts are non-operative individual accounts opened in the name of the employees and regulated by the institution employing them. However, Gratuity & Leave encashment A/c’s can be operated in the name of individual or in institution name in lump sum as per the requirements.
    • Provident Fund and Retirement Fund Depositor will be eligible to apply the Loan against retirement fund account only after one year of contribution on such fund account with consent letter from the concerned Institution / Organization.
    • Maximum limit of Loan:  Up to 85% against their Provident Fund & Retirement Fund Deposit at present after completion of one year of account opening.
    •  If an employee retires from his/her service, he/she may request to the Kumari-RF along with retirement document of the institution for the final payment.
    • Tax shall be levied on the final payment of the retirement fund deposit of an employee as per the prevailing provision of Income Tax Act / Regulation of Govt. of Nepal.
    • The Kumari Bank Retirement Fund reserves the right to add/amend/alter any and / or all the features, terms & conditions at any time and in any manner, which it deems necessary with or without notice to the account holders, however not in contradictory to ‘Retirement Fund Management and Operation By-Laws 2059’ approved by Inland Revenue Department of Nepal.
    • The Interest Rate on Deposit and Loan against deposit shall be vary/fluctuate time to time as decided by the Kumari Bank Retirement Fund Committee. Prevailing interest rate is effective from 17.12.2023: The interest on deposit is provided on daily balance & capitalized at quarterly basis and such interest income is also tax free.




    Interest Rate



    Provident Fund

    9.00% p.a.



    Retirement Fund

    9.00% p.a.



    Leave Encashment

    9.00% p.a.



    Gratuity Fund

    9.00% p.a.


    Lending Interest Rate: 1% p.a. payable annually at Ashad end above applicable interest of Provident and retirement fund. 

        Key Benefits to Account Holder

    • Benefit of Maternity allowance of NPR 10,000.00, Medical Insurance of NPR 20,000.00 (80% Hospitalization & 20% for domiciliary) and Mourning allowances of NPR 10,000.00 for all RF account holder.  
    • 50% discount on all ancillary products of Kumari Bank Ltd like credit card, debit card, mobile banking, internet banking, locker facility, DMAT accounts and Portfolio Management Service (Kumari Capital).
    • Home Loans (mortgage based) to contributors of the Unit at base rate plus 2% p.a
    • Allocation of Surplus (As RF Bonus) to every individual RF deposit holder from Profit of RF Fund.

        Documents Required for Account opening:

    • Recommendation Letter with authorized Signatory of Organization to operate the accounts.
    • Certified copy of Citizenship Certificate or/ Passport of respective employee and nominee.
    • Certified copy of ID card of respective employee (if available)
    • Dully filled Account Opening form (attached herewith) with recent photograph.
    • Registration, PAN, MOA and AOA of Organization.
    • Certified copy of Board Resolution with authorization to the signatory (or signatories)

       Documents Required for Account Closing

    •  Certified Copy of citizenship of the employee
    •  Recommendation Letter from Organization mentioning that the employee has resigned from the organization and its effective date.
    •  Duly filled account Closing Form of KBL Refund application
    • Copy of PAN Number of the employee

       Documents Required for Fund Loan

    • Duly filled Loan Form
    • Loan Deed (Which can be easily attain through our Branches)
    • Certified copy of citizenship of Employee
    • Request Letter from Organization/Employer to provide the loan for the fund.


    If you want to avail schemes offered by KBRF, please duly fill following document after collecting/downloading and approach the nearest branch of Kumari Bank Ltd.

    Kumari Bank Retirement Fund Forms:

    KBL RF Account Opening Form

    KBL RF Refund Application Form

    KBL RF Loan Application Form

    KBL RF Legal Document

    KBL RF Maternity Form

    KBL RF Mourning Form

    KBL RF Indemnity Form