Kathmandu, August 31:

Bank of Kathmandu (BoK) has announced a new scheme — Mero Bachat Yojana, from September 1, after a successful launch of Kopila Bachat Yojana . “The new scheme will help people save more money for the future,” states a press release issued here today. “The scheme draws higher interest rate that will be paid on quarterly basis,”staes the release.

In order to be eligible for the scheme, one has to have an account with BoK. As per the scheme, a monthly transfer of Rs 1000 or any multiple of thousand will be debited automatically from the nominated principal account to Mero Bachat Yojana on the 20th day of Gregorain calendar. The customer can join the scheme for two to ten years.