General Savings in RMCL refers to a type of deposit account offered to facilitate savings for our members. These accounts are designed to provide individuals with a safe and convenient way to save money while offering various features and facilities tailored to the needs of RMCL members. Here are some key features and facilities of General Savings accounts in RMCL:
- Minimum Balance Requirement: RMCL typically requires members to maintain a minimum balance in their General Savings accounts. This minimum balance may vary depending on the specific policies of RMCL.
- Interest Earnings: General Savings accounts usually earn interest on the deposited funds. The interest rates may be competitive compared to other financial institutions, and they are often calculated on a monthly or quarterly basis.
- Accessibility: RMCL members have easy access to their General Savings accounts through various channels such as branch visits, online banking, or mobile banking services. This accessibility ensures that members can manage their savings conveniently according to their preferences and needs.
- Deposit and Withdrawal Facilities: Members can deposit money into their General Savings accounts at any time with holding a minimum balance of NRs. 100, and they can also make withdrawals as needed. RMCL typically offers flexible withdrawal options, allowing members to access their funds quickly and conveniently with a deposit interest rate of 6% calculated on a daily basis.
- Safety and Security: General Savings accounts provide a secure way for members to store their money. RMCL adheres to strict security measures and regulatory requirements to safeguard members’ deposits and personal information.
- No Fixed Term: Unlike some investment products, General Savings accounts do not have a fixed term or maturity date. Members can keep their funds in the account for as long as they wish, with no penalty for early withdrawal.
- Membership Benefits: In addition to the basic features of the account, General Savings account holders may also enjoy various membership benefits offered by RMCL, such as access to financial education programs, discounts on loans or other financial products, and participation in decision-making processes within RMCL.
- Contribution to Community Development: By saving with RMCL, members contribute to the overall development of their communities. RMCL often reinvest a portion of their profits into community development initiatives, such as education, healthcare, infrastructure, and small business support.
Overall, General Savings accounts offered by RMCL play a crucial role in promoting financial inclusion, encouraging savings habits, and supporting the socio-economic development of communities across the country.
| Facilities | Requirements |
| Free Any Branch Banking Service (ABBS) | Account Opening Form |
| Free Account Statement | Copy of Citizenship Certificate |
| Smart Mobile Banking | 2 Passport Size Photos |
| SMS Banking Service | Copy of Citizenship/Identification Certificate of the beneficiary |
| Free Cheque Book | Single Passport Size Photo of the beneficiary |