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NIC Bank’s scheme to offer discounts to loan customers announced

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KATHMANDU: NIC Asia Bank has announced a discount plan to help minimize the impact of the bank’s loan customers due to the current economic slowdown in the country.

The bank has devised a plan to offer a complete waiver of fines, penalties, and the usual overdue interest amount as outlined in the table, provided that the borrower settles the entire loan sum by the Ashadha month of 2081, as indicated below, before the end of Chaitra in 2080.

The bank has also introduced provisions for discounts on monthly and quarterly installments, along with interest rates for regular debts, as listed in the scheme.

Customers facing financial difficulties due to various types of loans, including revolving credit, startup loans, and other liabilities disbursed by the bank, can participate in this scheme to avail themselves of benefits.

In this extraordinary period, characterized by the broader interests of the national economy, the bank urges all stakeholders to contribute according to their capabilities to address the current urgency. It emphasizes its commitment to supporting borrowers by offering attractive interest rate discounts on loans.

The bank’s initiative through this relief plan not only aims to alleviate the financial burden of affected customers to some extent but also signals its dedication to the overall economic recovery and sustainable development of the nation.