NIC ASIA Bank to reduce interest rate to 9.99% for Asar; borrowers also to enjoy 0.25% rebate in loan renewal charges

Tue, Jun 16, 2020 6:30 AM on Corporate, Latest,

NIC ASIA Bank has reduced its loan interest for its borrowers where the borrowers of the bank who clear their interest till the month of Asar will be charged 9.99% p.a. the bank will also provide a 100% refund of penal charges to its borrowers. Earlier, the bank had complied with Nepal Rastra Bank’s directives to provide a 2% interest rebate on the overall interest of the borrowers till the end of Chaitra and similar rebate for the Baisakh and Jestha end.

Issuing the statement, the bank has clarified that the borrowers who have been paying the interest lower than the proposed 9.99% will continue the same and all the customers who renew their loan within Asar end will receive a 0.25% discount in renewal charges.

The bank currently provides its services to its strong customer base from its 326 branches, 464 ATM terminals, 101 extension counters, and 61 branchless banking units throughout the nation.