Alpine offers collateral-free Foreign Employment and TVET loans to the needy ones

ShareSansar, August 19:

Alpine Development Bank Limited has come up with a couple of collateral-free attractive loan scheme targeting low-income and poor groups.

The development bank, which has basically been providing banking service in rural Nepal, has announced two schemes, namely Foreign Employment Loan (Vaideshik Rojgar karja) and Technical and Vocational Education Loan (Prabidhik tatha Vyavasahik Karja).

Under the Foreign Employment Loan, people from the economically marginalized groups seeking overseas job can apply for a three-year a loan of Rs 1 lakh at an interest rate of 15.5 percent per annum.

The only condition to seek this loan is that the aspiring migrant worker must have a valid visa of the destination country.

Insofar as the Technical and Vocational Training (TVET) Loan is concerned, all the conditions are same as that of the Foreign Employment Loan, except that they obviously do not need foreign visa, but documents and bills certifying that they have enrolled a school or a college.