Khalti digital wallet has launched Nepal’s first-ever wallet-based recurring deposit (RD) service called Smart Deposit. The facility enables Khalti users to save an amount on the app and earn interest.
Khalti has described Smart Deposit as a disciplinary financial tool. It lets you initiate a habit of saving on your digital wallet and earn interest. If you are a regular user of the Khalti digital wallet, you can start depositing an amount on the app and earn interest.
Khalti launched its Smart Deposit service in cooperation with Manjushree Finance. So, when you start your Smart Deposit, an account is opened at Manjushree Finance, and your principal and interest are deposited there. In the meantime, you can track your deposit status on the Khalti app.
Khalti brings smart deposit with flexible duration and cycle
You only need a minimum amount of just Rs 100 to start Smart Deposit on Khalti. You can choose your deposit cycle among daily, weekly, and monthly, and choose a duration from six months to 60 months.
The service operates in compliance with Nepal Rastra Bank (NRB) guidelines.
“The latest technology, like Smart Deposit, launched through this collaboration, will further expand the use of technology in financial transactions,” says Tej Raj Timilsina, CEO of Manjushree Finance. “All users who are doing their financial transactions through Khalti will be able to easily open an account and conduct their transactions on Manjushree. We believe this will save the time spent on opening an account at a financial institution and make financial transactions more convenient.”
How to start Smart Deposit in Khalti?
Do these to start Smart Deposit in Khalti:
- Launch the Khalti app and log in
- Go to Financial Service
- Tap on Smart Deposit
- Choose your amount, cycle, and duration
- Now, you have started your Smart Deposit facility on Khalti
The interest rate in this recurring deposit on Khalti is based on the monthly published interest rate of Manjushree Finance.