KATHMANDU: Now, customers can get the benefit of fixed deposit and insurance on a single bank account. NMB Bank Ltd, in association with National Life Insurance Company Ltd (NLICL) has launched 'NMB Bank Prudent Invest' service which gives those benefits to account-holders.

NMB Bank and NLICL signed an agreement today to start the service. "This is the first time a financial platform has been designed specially to help consumers let their fixed deposit act as an investment and life insurance coverage (endowment) at the same time," said Upendra Poudyal, chief executive officer, elaborating the benefits of the account.

The account, Prudent Invest, offers consumers assured growth of minimum of 100 per cent along with return benefits of life insurance. Additional returns on bonus as per the prevailing rate and tax benefits are other attractions of the account.

The account can be started with multiple deposits of Rs 100,000. The bank believes that this scheme will help people to get insured along with reducing financial and economic impact when needed.