Nepal Rastra Bank to issue 10% Foreign Employment Bond; Interested Nepali citizens can purchase minimum of Rs 5,000

Nepal Rastra Bank is issuing 10% Foreign Employment Bonds targeting the Nepalese working in the foreign countries. The bond is a 5 year bond with a total value of Rs 25 crore.

The interest from the bonds will be payable semi-annually by the Rastra Bank. The interested foreign employees can invest minimum of Rs 5,000 in the bonds and can apply for any amount which is divisible by 5,000.

Any Nepali citizen who is working in foreign countries and those citizen who have returned from employment in the foreign countries and 4 months’ time have not elapsed can invest in the bonds.

The interested citizens fulfilling the criteria can purchase the bonds from Ashadh 1 till Ashadh 29.

The interest from the banks can be received from any nearby commercial banks or approved banks and financial institutions or any branches of Nepal Rastra Bank.

To purchase the bonds, an individual requires photocopy of passport and visa and 2 passport sized photos. Along with these, if the individuals have brought any kind of foreign currencies or have foreign currencies in any of the bank accounts in Nepal, they need to submit vouchers related to that as well.

If the individual wishes to purchase the bonds in the name of family members, then citizenship certificate and relationship certified documents (Nata Pramanit) are required.