Terms and Conditions

1. The laws and regulations of Nepal and usual customs and practices adopted by the commercial Banks of Nepal will apply to and govern the conduct of Deposit Accounts opened with the Bank.
2. The Bank reserves the right to close/freeze the deposit accounts with or without notice if the conduct of the account is not satisfactory in the opinion of the Bank or for any other reasons whatsoever.
3. The Bank treats the balance in the Depositor’s account as security for all the obligations present or future and will take resort to it in the event of the failure of the constituent(s) in discharge of his/her/their obligations.
4. Cheque/Drafts collection are undertaken only on terms that the Bank is not liable for loss damage or delay whatsoever caused which is not directly due to the negligence of Bank’s staff and Bank reserve the right to deduct its charges (commission interest and other services) levied by the Bank and other bank/s from the amount.
5. The Bank will take utmost care to record all the entries correctly in the account of the constituent(s), but in the case of any error the Bank reserve right to make the correct, adjusting entries without notice.
6. Any change in address and/or constitution of the constituent(s) should be immediately communicated to the Bank through a reliable media and acknowledgement shall be received from the bank.
7. The Bank reserves right to amend its rules at any times and in any manner which the Bank deems necessary updating the same on its website.
8. The minimum balance and initial deposit for Current, Saving, Saving Premium and Fixed Deposit Accounts are depending upon Branches.
9. With the prior approval of the bank the account holder can withdraw the amount through withdrawal slip supplied by the Bank, which should be signed as par specimen signature supplied to the Bank. However, bank do not encourage to withdraw through withdrawal slip.
10. The statement of accounts supplied by the Bank for Current/Saving/Saving Premium Account will be treated as correct unless the constituent(s) revert back to the Bank in writing within fifteen days from the date of dispatch of statement.
11. The Bank will register the constituent(s)’ stop payment request of cheques, but it cannot guarantee its nonpayment.
12. Interest on overdrawn account will be charged on daily product basis at the prevailing rates.
13. The account holder does not draw any cheque in excess of its available balance. The Bank may blacklist the account holder at the request of payee of cheque issued by him in case of non availability of balance to honor such cheque as per Nepal Rastra Bank Guidelines.
14. Bank has right to close accounts having zero balance more than six months.
15. No interest shall be paid on the matured time deposit. However, Bank may renew matured time deposit within a week upon its expiry at the request of the account holder. The interest rate applicable on such renewed account will be the same that prevail on day of its expiry or prevailing rate at the time of renewal whichever is lower.
16. The applicable interest rate on deposit account is subject to change from time to time. The changed rate shall be informed publishing on newspaper and/or displaying on banks website.

1. EBL ATM (Debit) Card (hereinafter referred to as the card) means the card issued by the Everest Bank Ltd. (hereinafter referred to as the Bank), to the applicant (hereinafter referred to as the card holder) for effecting cash withdrawal, balance enquiry and other permitted transactions through all network “Automated Teller Machines”(ATM) and Point of Sales (POS) terminals installed by the Bank and ATM/POS terminals installed by other Bank, Punjab National Bank in India displaying logo or any other institution which may be notified from time to time.
2. For joint account which is operated by the signature of any one of the account holders, Card will be issued at the request of the account holder. The account holder/joint account holder will be liable (jointly or severally) for all transactions using the card and the terms and conditions herein shall be binding to all account holders.
3. The personal identification Number (PIN) and the card slips shall be issued to the card holder at his/her sole risk and responsibility. The card holder undertakes not to pass the card or disclose the PIN to any other person. The card holder further undertakes to destroy the PIN slip after memorizing the number.
4. The card is not transferable and shall be used exclusively by the card holder.
5. The card holder further undertakes to immediately inform the Bank in writing in the event of loss or theft of the card. It is understood that the card holder shall continue to be liable for all the transactions until receipt of intimation in writing by the Bank. Further, the Bank shall not be liable for any amount of transaction by the stolen or lost card that took place before the Bank makes the stolen or lost card invalid. The Bank will replace the card after taking charges applicable at that time.
6. In the event of the card holder at any time drawing amount in excess of the credit balance in his account, the Bank will be entitled to create an overdraft in his account and the card holder agrees to repay the same on demand with applicable interest.
7. The card holder authorizes the Bank to recover all dues and overdrawn amount (including charges, fees and taxes, if any), arising and becoming payable to the Bank as a result of use of the card by card holder through the ATM/POS from all or any of the account of the card holder with the Bank. In case the funds in the account/s of the card holder are not sufficient to meet such dues, the Bank shall be entitled to recover such dues from the card holder through due process of law.
8. Three times continuous wrong entry of PIN, while making cash withdrawal will automatically make the card inoperative. In such case the card holder will have to contact the concern authority of the Bank for making card revalidation.
9. If the card is not honored in the desired manner due to failure of ATM or if the ATM is not functioning due to technical or any reason including power failure, temporary insufficiency of cash in the ATM or any other reason, the Bank shall not be liable for any consequential or indirect loss or damage arising there from.v
10. Any fees or charges including transaction fee as applicable shall be charged to card holder for transaction done through other than ATM network of the Bank. The fee shall be decided by the Bank from time to time.
11. The Bank reserves the rights to cancel the card and stop its operations any time without assigning any reason/ giving any notice.
12. The card shall remain the property of the Bank and shall be surrendered to the Bank on demand.
13. Cash shall be withdrawn within the prescribed limit.
14. Cash withdrawn in Indian Currency shall not be used for capital transactions.
15. Related bill/ invoices of goods or services purchased in Indian currency withdrawing from card shall be submitted to the bank including necessary statement. Such requisite documents may be obtained through the point of sale.
16. The card transactions shall be liable for suspension, including initiating necessary action by submitting the particulars to Nepal Rastra Bank if the customer withdraw in excess of the approved limit and/or act against the arrangement made thereof.
17. Usage of the card for purpose of withdrawal of cash from ATM and payments in any currency other than Nepalese Rupees shall be subject to the Circulars and Directives issued by Nepal Rastra Bank and other rules and regulation of Nepal.
18. The Bank may in its absolute discretion, amend or supplement any of these terms and conditions including limiting the amount of withdrawal or timing of the service without prior notice to the card holder.
19. As the context required, term herein denoting the singular shall include the plural and vice-versa. Please confirm your acceptance of our terms and conditions by signing on the space below and affixing your name and date.
20. The Bank reserve the right to create rokka/freeze the account as per the instruction of competent authorities without informing the account holder.

The customer understands that this is a banking facility provided by the Everest Bank Limited (EBL) to its customer and agrees that it shall be governed in accordance with the terms and conditions mentioned below:

General :

The terms and conditions contained in this agreement shall form an integral part of this service and that the customer agrees to abide by all such terms and conditions included in the application form submitted by the customer to the EBL during account opening time and other conditions the EBL may agree to comply with any service provider in the process of making the facility available to the customer. The terms and conditions of this contract shall be construed in Compatibility with any other terms and conditions related to any other product or facility that the customer is availing or may avail in future from the EBL.

Application for use of facility:

The customer shall submit an application to the EBL for the use of facility in a prescribed format. The EBL may activate the facility within four working days after receiving a complete application.

Eligible Customer:

The customer intending to use this facility should be account holder of the EBL and may be either a sole account operator of own account, or authorized person to operate the account of persons/firms of corporate institutions. The customer shall in case of joint account, have to provide a written consent of other account holder/s authorizing him to use the facility. All or any transaction arising from the use of services in the joint account shall be binding on all joint account holders. The customer further agrees that in case of a joint account none of the joint account holders is a minor, and that each of the joint holders of the account have agreed in writing submitted along with the application to be bound jointly or severally for any obligations arising out of the use of the facility. In case of company, duly approved power of attorney has to submit to use the facility.

Availability, Alterations, Authority and Disclosure:

The customer understands that while the EBL shall endeavor to make available all the possible services under SMS/Mobile/Internet banking facility, it is entirely upon the EBL to decide at its sole discretion what services may be made available to the customer from time to time, and to make any changes or alterations in the services being offered without any reasons. The customer agrees that the facility being offered is available only to the customer that uses the mobile phone whose number is recorded/ registered in the system or verified by the system of the EBL and also accepts that the EBL shall not be responsible to provide any information enquired/instructed from the customer from other mobile phone number. The instruction of the customer shall be effective only after authentication of the customer by means of verification of the mobile phone number. The verification process may be altered by the EBL from time to time and the customer shall be deemed to have agreed to such changes. Until the facility is terminated, the customer hereby unconditionally and irrevocably authorizes the EBL to access his/her account to affect any banking or other transaction/s through the use of SMS/Mobile/Internet facility as well as authorizes to share account information with third party, if required, for the purpose of accepting/executing request of the customer.

Limitation/Disclaimer of the Everest Bank Limited (EBL):

The EBL shall not be liable or responsible for any of the following:

1. Any unauthorized use of the customer’s mobile phone, mobile number and password or for any fraudulent or erroneous instructions received from the set, even if the customer is not the person giving such instruction and even if such instructions are received because of intervention or penetration into the electronic system by an unauthorized person.
2. Provide information as per the instruction or complying with the instruction/s received from the customer’s mobile phone number recorded/maintained/verified in the system of the EBL.
3. Any error, delay or inability on the Everest Bank Limited (EBL)’s part to comply with any of the instructions of the customer due to technical, operational, lack of network coverage or problem occurred in the network provider or force majeure.
4. Any loss of data or information in transmission or any breach of confidentially because of failure of the system, although adequate care has been taken to use sound technology to avoid such lapses.
5. Any improper use of facility of the customer whether knowingly or unknowingly sharing the information with any third person/party by the customer.
6. Any direct or indirect or consequential loss that the customer may face as a result of his/her inability to accept instructions provided by the system for the facility.
7. Failure from the part of customer to abide by any of terms and conditions contained herein and account opening form.
8. Bank shall send alert message on given mobile number.

Fees and Modification:

The EBL shall from time to time charge such fees as it may deem necessary at its discretion, and revise and alter the same, for the services offered under the contract. If the customer disagrees with the fees so charged, every change of which will be communicated either in writing or electronically or through any other feasible means as determined by the Everest Bank Limited (EBL), he/she shall have the option to discontinue the use of such services. The customer agrees to be bound by any modification in these terms and conditions, which may be introduced at the sole discretion of the Everest Bank Limited (EBL). The EBL shall endeavor to inform the customer of such changes through a prior notice to the customer through Email or by posting the changes in the website or by giving a public notice in a mass media. Unless the customer discontinues the use of services after such notice is given, he/she shall be deemed to have agreed to the changes or modifications so introduced and be bound by any additional terms or conditions.

Indemnifications:

The customer hereby unconditionally and irrevocably agree to indemnify and hold the EBL and its affiliates harmless from any action, demands, legal suits/claims/proceedings, loss, damages or any other expenses or obligations whatsoever which the EBL may incur at any time as a result of its good faith execution of, or omission or refusal to act, on any instructions received from the customer’s mobile set with proper mobile number and password. The customer shall also hold the EBL and it’s affiliated harmless against any loss incurred by him/her in process of, or as a result of, his/her availing the facility, or for any negligence on the part of the customer including, but not limited to, allowing unauthorized persons from using the facility or failure to protect the mobile at all times from unauthorized use.

Termination:

The customer may terminate the use of the facility by requesting the EBL for such termination at least two working days in advance of such intended termination. Till such time as the customer’s request for termination has been acted upon, he/she shall remain responsible under the terms of this contract. The EBL may, at its sole discretion, terminate or temporarily withdraw any or all of the facilities offered to the customer without giving any prior notice, and may suspend any or all facilities without giving any notice for such reasons as maintenance or repair, or for reasons of security or any kind of emergency during which time such services may have to be suspended. The closure of the account associated directly with this facility shall result in the termination of the service.

Applicable Law:

Any dispute arising out of this facility shall be settled in accordance with the terms and conditions contained herein and in accordance with the laws of Nepal and directives/circulars issued by Nepal Rastra Bank from time to time. The applicant confirms that he/she has read the terms and conditions contained above agree to be bound by the same by making a tick on the checkbox of "I agree after reading all the Terms And Conditions" on the online account form.