NIC Asia Bank Introduces Interest Rate Relief Scheme Amid Economic Slowdown

NIC Asia Bank Limited (NICA), known for its responsible banking practices under the slogan "Bank pani sathi pani, ramro pani hamro pani," has introduced a discount scheme to alleviate the financial burden on customers due to the current economic stagnation. By the end of Chaitra 2080, the bank announced a 100% waiver on fines and damages for loans repaid in full within the first month of 2081, along with discounts on ordinary arrears interest based on the overdue period:

1. 91 to 180 days overdue: 15% discount

2. 181 to 365 days overdue: 25% discount

3. More than 365 days overdue: 35% discount

This scheme is available to customers with various types of loans, including working capital and revolving loans, and aims to support borrowers during this challenging period. NIC Asia Bank believes this initiative will help reduce customers' financial burdens and contribute to the recovery and long-term strength of the national economy.