Himalayan bank Limited has announced two new schemes as part of its programme to provide customized deposit and credit products to its customers on Wednesday.

According to the information provided during a press meet organised at its central office in Thamel, the ‘Himalayan Bank banou Lakhoupati Deposit Yojana’ is a fixed deposit scheme with one ticket for every Rs 25,000 deposit to participate in a quarterly lottery lucky draw. Every three months, one lucky winner will be awarded Rs one million. All depositors will get one percent interest with a minimum time period of 6 months.

Similarly, the bank has announced to provide loans to small business enterprises at 7.99 percent interest, the lowest of all interest rates charged by the commercial banks in credit. According to Kishore Maharjan, Deputy General Manager of the bank, the loan amount ranges from Rs 0.5 million to Rs 1.5 million. However, only a business with two years of good performance or an individual/entrepreneur having sound knowledge in the field for three years will be eligible to participate in the scheme.

Maharjan said they hoped to commercialize even the small amount of money remaining idle with people. “We expect deposits even from housewives,” he said.

Both the products will be available from all branches of the bank from Thursday onwards.

Himalayan Bank is one of the leading commercial banks providing new monetized products to its customers since its establishment 12 years ago.