Kathmandu, December 13:

Vibor Bikas Bank Ltd (VBBL) launched a new product, Vibor Super Yield Deposit (VSYD) that not only pays interest to depositors but also offers 40 per cent profit from investment of deposits.

“Timed for maximum of five years, the hybrid product of Mutual Fund and saving accounts, VSYD, is suitable for professionals like doctors, lawyers and engineers, who do not want to risk their hard-earned money,” Ajay Ghim-ire, chairman and CEO of the bank, said, adding that the institutions like Life and Non-Life Insurance, Provident Fu-nds, and trusts can also benefit from this new product.

“Liquidity is one of its best features,” Ghimire said, “as a depositor can borrow upto 90 per cent of the deposit at eight per cent interest rate anytime.”