KATHMANDU: Siddhartha Bank Ltd (SBL) has launched 'Siddhartha Pay and Save Account' which has a unique facility for the first time in Nepal targeting parents and children.

In this account, which can be opened with zero balance, if the parent makes electronic transactions of more than Rs 100 through debit card and mobile banking, a fixed amount will be deducted (based on the transaction amount) from the parent's account and automatically credited to the children's account, as per a press statement.

The bank will provide free debit card and BankSmart XP service for the first year.

A version of this article appears in the print on May 9, 2023, of The Himalayan Times.