Kathmandu, Sept. 19:
Citizen Investment Trust (CIT) has announced a new
product 'Citizen Savings Increment' programme. It has announced the programme
to convert to the pension plan on the basis of 'Pay As You Go' after a certain
period.
This programme will include common people who earn
on a regular basis or certain period in a year. Non-Resident Nepalis and Nepali
migrant workers abroad, business enterprises registered in Nepal and its
workers, and self-employed people can also be included in the programme.
People can deposit Rs. 500 to any amount of their
capacity on a monthly basis. They can deposit the money lump-sum or partially.
The CIT has announced the programme as it does not
have any programme to include common people, and it also had not launched any
product for many years.
"We have announced it to guarantee the social
security for common people, promote savings and convert it to pension plan as
per the wish of the depositors after a certain period," said the CIT.
The depositors can have the facility of up to 80
per cent lending on their savings after regular savings for two years. They can
also avail other credit facilities for housing and education as well.
The product also includes the accident insurance,
health insurance, and expenses for death rites and new mothers.
Published in The Rising Nepal daily on 20 September 2019. 
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