Kumari Jeevan Beema 2X Muddati Khata Plus
Kumari Jeevan Beema 2X Muddati Khata Plus (KJBMKP) scheme is a fixed deposit scheme developed for the purpose of catering to the need of individual customers who are willing to grow the sum of money by two times at a desired duration with term life insurance facility. We are the first bank and only bank to offer a fixed deposit account with Term Life Insurance coverage.
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Product Name |
Kumari Jeevan Beema 2X Muddati Khata Plus |
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Major Highlight |
Term Insurance equaling the amount of FD (principal) provided |
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Minimum Balance |
NPR 50,000 |
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Maximum Balance |
NPR 10,000,000 |
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Joint Account |
Not allowed to open |
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Loan Against Fixed Deposit |
Available. As per Bank Policy *at present 90% of total accrued amount and principal at 15% p.a. |
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Tax |
Tax on interest shall be paid by the customer on quarterly basis |
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Final Payment |
Final payment received by the customer shall be the remaining amount after deducting tax from the double amount |
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Insurance Features |
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Insurance Type |
Term Insurance (group) |
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Insurance Covered |
Death due to any cause (*barring exclusion) |
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Insurance Provider |
Mahalaxmi Life Insurance Co. Ltd. |
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Term Insurance Eligible Age |
Between 18 to 50 Years |
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Minimum Sum Insured |
NPR 50,000 |
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Maximum Sum Insured |
NPR 10,000,000 |
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Medical Test |
Not required for coverage up to NPR 10,000,000 |
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Waiting Period |
7 days from the date of FD account opened |
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Insurance with Medical Test |
Above NPR 10,000,000 |
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Premium Treatment |
Non-refundable |
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Insurance Tenure |
Minimum up to FD Term/ Renewed Annually by Bank as per below table |
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Scheme |
FD Term |
Insurance Term |
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Kumari Jeevan Beema 2X Muddati Khata |
6 Years 8 Months 9 Days |
7 Years |
What services do we offer for this account type?
Mobile Banking
Internet Banking
Debit/Credit Card
Locker Service