NIC Asia Bank Introduces Scheme to Assist Customers in Financial Distress

NIC Asia Bank, known for its commitment to responsible banking under the slogan "Bank pani sathi pani, ramro pani hamro pani," has announced a significant relief initiative to alleviate the financial burden on its customers amid the ongoing economic stagnation. Effective until the end of Chaitra 2080, the bank is offering a substantial discount scheme on penalties and interest for overdue loan payments.

The relief program is designed for customers facing financial difficulties, including those with working capital loans and other types of revolving credit that are paid in monthly or quarterly installments. Under the scheme, borrowers who settle their entire loan amount within the first month of 2081 will receive a 100% discount on penalties, along with a reduction on the ordinary arrears interest as follows:

A 15% discount on simple interest for loans overdue by 91 to 180 days.
A 25% discount on simple interest for loans overdue by 181 to 365 days.
A 35% discount on simple interest for loans overdue for more than 365 days.

This initiative reflects NIC Asia Bank's proactive approach to supporting its customers during a challenging economic period and its efforts to contribute to the stability and long-term strength of the national economy. The bank expresses confidence that the discount scheme will not only relieve the financial stress of its customers but also aid in the broader economic recovery.