NIC Asia Bank launches Double Deposit Scheme; both individual and institution can avail this service

On the occasion of 20th year of its successful operation, NIC ASIA Bank Nepal Ltd announces the launch of a new Deposit scheme ‘NIC ASIA Double Deposit’ to its valued customers. The scheme is available for both individuals as well as institutional customers with a minimum deposit Rs.1lakh for a fixed period of time. For individuals the time period is 9year and for institutions it is 10years. Interest earned in this scheme will eventually become double at the time of maturity even after the deduction of applicable tax (TDS) of 15% for institutions and 5% on individual accounts. The scheme provides a guaranteed assurance of returns to the customers that would not affect by market interest rates fluctuation. NIC ASIA Bank being one of the largest private sector commercial banks in the terms of capital base, balance sheet size and number of branches; is committed towards innovating various products and services to its target market of all age group, gender and profession. Currently the bank is providing services from 119 branches with 4 extension counters and also has plans to expand its branch network rapidly across the country. Recently, NIC ASIA has proposed 20% bonus share to their shareholders from the profit it earned it FY 2073/74. The paid up capital will reach Rs 8 arba upon adjustment of the dividend.