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Siddhartha Retirement Fund (SRF)


Background: 
Siddhartha Retirement Fund (SRF) has incorporated in BS 2060 under Income Tax Act, 2058 & Income Tax Rule, 2059 obtaining approval from the Inland Revenue Department (IRD) as a separate entity of Janata Bank Nepal Limited (Earlier Siddhartah Development Bank Limited).
The main objective of the Siddhartha Retirement Fund (SRF) is to make employee benefited from their income tax liability to maintain their secure retired life throughout saving of their active employment period.

The Siddhartha Retirement Fund (SRF) is successfully running its 12th years of operation delivering quality service to its customers who have been contributing their best service in any industry of the national economy.

Product & Services:-
 The Siddhartha Retirement Fund (SRF) has been managing following schemes to facilitate our valued customers.

  • Provident Fund
  • Retirement Fund
  • Gratuity/Pension Fund
  • Employees Welfare Fund
  • Public Provident Fund
  • Leave Encashment Fund &
  • Other Staff Related Funds
 
Features:
 
  • 8.5% p.a. Interest on deposit is provided on daily balance & capitalized at quarterly basis and such interest income is also tax free.
  •  The Siddhartha Retirement Fund (SRF)is providing credit facilities to its individual depositor/contributor up to 90 % of their deposit amount (provident fund and retirement fund) as SRF Revolving Loan.
  •  The Depositor/Contributor will be eligible to apply for SRF Revolving Loan only after one year of depositing/contributing on such amount or after completion on one fiscal year of depositing/contributing on such amount along with the recommendation from the concerned organization (Employer).
  •  The interest rate on SRF Revolving Loan will be additional 1.5% pa interest rate on deposit (i.e. 8.5%+1.5%=10%).
  •  Hassle free and prompt service.
  •  The Depositor/Contributor can get all services (Deposit/Loan/Account Close) from any branch of the Janata Bank Nepal Limited.
  •  For the final withdraw of the deposit amount, the Depositor/Contributor may request to Siddhartha Retirement Fund (SRF) along with the certification of the retirement document from the concerned organization (Employer).
  •  Depositors can be benefited of NPR 10,000.00 as if on their Bereavement Expenses. (Conditions apply).

 Required Documentation:
  1. SRF Account Opening
  • BOD Minute from concerned Organization
  • Covering Letter
  • Duly filled SRF Opening Form and SRF card (by individual)
  • Citizenship Copy
  • Employee ID Card Copy
(BOD minute and covering letter is not necessary for RF account)
  1. SRF Closing
  • Resignation acceptance Letter of the employee
  • Acknowledgement Letter from Organization
  • Duly filled SRF Closing Form and original SRF card
  1. SRF Revolving Loan
  • Duly filled SRF Loan Form
  • SRF card copy
SRF Related Forms Download

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Banking Hours

During summer (16th Magh to 15th Kartik)
Sunday to Thursday : 9:45 am to  5:00 pm
Friday : 9:45 am to 2:30 pm
 
During winter (16th Kartik to 15th Magh)
Sunday to Thursday : 9:45 am to  4:00 pm
Friday : 9:45 am to 2:30 pm

Holiday counter:

    1. New Baneshwor Branch (10:00 AM to 1:00 PM) (Saturday Only)
    2. New Road Branch (10:00 AM to 1:00 PM) (Other Than Saturday)
    3. Butwal Milan Chowk Branch (10:00 AM to 1:00 PM )