Account Opening FAQ: Documents & Process Guide 2082
Nepal · NRB-aligned reference
Account Opening Master Guide 2082/83
Minor, SSA, joint, student, savings, remittance & corporate—what to carry, limits, fees, and a pre-branch checklist.
Remittance accounts
2026: Often +1% on savings, IPO quota for workers, lower tax on remittance FD, and fee waivers—if you qualify and bring the right proof.
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Minor accounts (under 18)
For children below 18—sometimes branded as child savings schemes. Guardian runs the account until the child is an adult.
Key Rules for Minor Accounts
- Guardian Operated: Only guardian can operate until age 18
- Automatic Freeze: At 18, account auto-freezes
- Limited Access: Most banks block mobile banking transactions
- KYC Upgrade: Must visit bank with Citizenship after turning 18
Required Documentation (Practical Checklist)
For Minor
- Birth Certificate: Ward Office issued (Hospital certificates rejected)
- Photos: 2 recent PP size photos
For Guardian
- Citizenship: Original + 2 copies
- NID Number: Mandatory for guardian
- Photos: 2 PP size photos
- SIM Card: Mobile must be in guardian's name
SSA (social security allowance)
Government allowance recipients—e.g. seniors, single women, disability, Dalit, endangered ethnicity—use a dedicated, fee-free route.
Essential Rules for SSA Accounts
- No Fees Allowed: Banks cannot charge any fees (NRB Circular)
- Branch Specific: Must open at bank branch assigned to your Ward
- Home Service: Bedridden individuals = Bank must arrange home visit
- Wrong Branch: Account opening will be denied
Required Documentation
- Recommendation Letter: "Sifaris" from Ward Office
- Parichaya Patra: Red/Blue ID Card from Municipality
- Citizenship: Original
- Photos: 2 PP size photos (mandatory for SSA)
- NID: National Identity Card Number
Legal Protection
If bank asks for ANY fee for SSA account, reference NRB Circular No. NRB/UPD/01/2078-79 (No Fees for Social Security Accounts).
Illiterate or visually impaired customers
When someone cannot sign or see well, banks use thumbprints, witnesses, and counter-only withdrawals.
Important Restrictions
- No Cheque Book: Banks generally don't issue cheque books
- Witness Required: Every withdrawal needs witness signature
- Biometric System: Thumbprints (Left & Right) captured digitally
- Counter Transactions: Withdrawals only via slip at counter
Required Documentation
- Citizenship: Original
- Photos: 2 PP size photos (often joint photo with witness)
- Witness Presence: Must be present during account opening
- Witness KYC: Witness ID and account in same bank
- Initial Deposit: NPR 500-1,000 for activation
Joint accounts
Two or more people—pick the operation mode (and, either-or, former-or-survivor) to match how you actually want money to move.
Jointly (And)
Either or Survivor (E or S)
Former or Survivor
Important Death Rule
Even in "Either or Survivor," if one holder dies, the survivor usually cannot simply continue the account. Most banks require you to CLOSE the account and open a new single one to prevent legal claims from other heirs.
2026 AML Update
Important: ALL joint account holders MUST be physically present. No "taking form home to sign" allowed anymore due to Anti-Money Laundering rules.
Student accounts
College or university students (roughly 18–25): keep a current-year ID or the bank may convert you to regular savings with higher charges.
Key Requirements
- Valid ID: Student ID Card MUST be CURRENT academic year
- Expired ID: Account converts to "Normal Saving" (higher fees)
- Initial Deposit: Need NPR 500 deposit for ATM card
- Age Limit: Under 18 = Must be Minor Account with Guardian
Required Documentation
- Valid Student ID: Current academic year
- Citizenship: Original
- NID: National Identity Card Number
- Photos: 2 PP size photos (most banks)
- Initial Cash: NPR 500 for ATM card activation
Personal savings (general)
A. General Savings Account
For: Residents above 18 years
Document Checklist:
- Original Citizenship (Nagarikta)
- NID Number (NIN)
- Photos: 2 PP size photos (most banks) Nabil Bank: Often 1 photo sufficient
- Location Map: Hand-drawn sketch of residence
- Utility Bill: If current address ≠ permanent address
- Initial Deposit: NPR 500-1,000 recommended
Tax Note: 5% withholding tax on interest
Remittance savings (प्रवासी बचत)
For workers abroad and eligible family in Nepal—extra interest and perks if documents and remittance proof stack up.
Special Benefits for Migrant Workers
Self Account (Worker Abroad)
- +1% extra interest
- 10% IPO quota
- Zero account fees
- Remittance bonus NPR 100
- Passport copy
- Visa copy
- Labor Permit (Shram Suikriti)
- Citizenship copy (attested)
- 2 photos
Beneficiary Account (Family in Nepal)
- +1% extra interest
- Free debit card
- Zero annual fees
- Free mobile banking
- Beneficiary Citizenship
- Worker's Passport copy
- Relationship proof (Marriage/Birth cert)
- 2 photos each
- Remittance receipt copy
Critical Rules & Restrictions
- IPO Quota Eligibility: Must remit minimum NPR 50,000 in last 6 months
- Family Account Limitation: Beneficiary accounts cannot apply for IPO quota
- Account Conversion: If worker returns permanently, account converts to regular savings
- Document Validity: Labor permit must be valid (not expired)
How to Open Remittance Savings Account
- For Worker Abroad:
- Visit Nepali embassy/consulate in host country for document attestation
- Send attested documents to family in Nepal via courier
- Family member visits bank with original documents
- Power of Attorney required if account will be operated by family
- For Family in Nepal:
- Visit bank with complete document set
- Both beneficiary AND worker must sign forms
- Worker's signature must be attested by embassy/notary
Remittance fixed deposit (प्रवासी FD)
Park remittance funds in FD: often higher published rates and lighter withholding tax—bank and amount rules still apply.
Interest Rate Comparison 2026
1 Year FD
2 Year FD
3 Year FD
5 Year FD
Note: Interest rates vary by bank. Nabil, Global, NIC Asia offer competitive rates for remittance FD.
Special Tax Benefits for Remittance FD
- Reduced Tax: Only 5% withholding tax vs 15% for regular FD
- Tax Exemption: First NPR 1,00,000 interest is tax-free annually
- Foreign Source: Funds must come from foreign remittance
- Proof Required: Bank will ask for remittance receipt/SWIFT copy
Regular FD vs Remittance FD
Minimum Amount
Interest Rate
Withholding Tax
Early Withdrawal Penalty
Auto-Renewal
Loan Against FD
Important Documentation Requirements
- For Worker Opening FD:
- Valid passport with visa page
- Labor permit (Shram Suikriti)
- Remittance receipt (SWIFT/TransferWise copy)
- Citizenship copy (embassy attested)
- 2 passport photos
- Power of Attorney if operated by family
- For Family Opening FD with Remittance:
- Beneficiary citizenship
- Relationship proof with worker
- Worker's passport copy
- Remittance receipt showing sender details
- 2 photos each
- Declaration of fund source
Loan Against Remittance FD
Special provisions for migrant workers:
- Higher Loan-to-Value: Up to 95% of FD value (vs 90% for regular)
- Lower Interest Rate: FD rate + 1% only (vs +2% for regular)
- Flexible Repayment: Can repay from abroad via remittance
- Family Access: Family in Nepal can avail loan with Power of Attorney
Corporate & institutional accounts
Essential: "Company Seal" (Rubber Stamp) required for ALL corporate accounts.
Sole Proprietorship
Partnership Firm
Private Limited Company
NGO / Club / Co-op
Critical Corporate Rules
- Expired Registration: Account immediately frozen
- Board Resolution: Must specify bank name and authorized signatories
- Beneficial Owner: 2082 Rule: Declare anyone with >10% shares (down from 25%)
- Annual Renewal: NGOs must provide valid DAO renewal yearly
Digital limits & common fees
Transaction Limits (Per NRB Directive)
Mobile Banking
Internet Banking
Wallet Load
Wallet to Wallet
ATM Withdrawal
Actual Bank Charges (2026 Update)
- Account Closing Fee: Closed within 6 months: NPR 200-500 | After 6 months: FREE (NRB rule)
- Cheque Book: First book free | Subsequent: NPR 250-500 per book
- Statement Fee: E-Statement free | Printed statement: NPR 10-20 per page
- Dormancy Charge: No transaction for 6 months (Corporate) or 1 year (Personal) = Dormant account
- Reactivation: Physical presence + Application required
- Mobile Banking: Private banks (Nabil, Global, NIC): First year FREE, then Rs. 250-350/year
- Debit Card: Rs. 500/year (Private banks), Rs. 300-400/year (Government banks)
Special Declarations (Mandatory)
- PEP Declaration: Politically Exposed Person (Yes/No)
- FATCA: For US Visa/Green Card/US-born (IRS reporting)
- Source of Funds: For deposits >NPR 10 Lakhs (Salary/Land Sale/Business)
At-a-glance: documents & cash
Scan this before you pack your folder—each card is one account type.
Minor Account
SSA Account
Illiterate/Blind
Student Account
General Savings
Remittance Savings (Worker)
Remittance Savings (Family)
Remittance FD
Before you leave for the branch
Tap the boxes as you pack—five things that most often delay account opening.
2026 Important Update
Joint Accounts: ALL account holders must be physically present. No exceptions for taking forms home due to strict AML (Anti-Money Laundering) regulations.
Practical Tips for Success
- Visit bank between 10 AM - 2 PM (avoid lunch hours)
- Carry ALL originals + 2 photocopies of each document
- Ask for complete fee structure BEFORE signing
- Verify mobile banking activation before leaving bank
- Keep first cheque leaf as reference for future
- For private banks: Ask about first-year free mobile banking offers
- For remittance accounts: Ask about current interest rates and IPO quota availability
SIM Verification Process
Note: Banks cross-check SIM ownership through telecom APIs. Mismatch = Mobile banking rejection.
Printing: this guide is card-based—use PDF print if your browser clips anything.