Nepal Rastra Bank introduces Foreign Employment Bond worth Rs 25 crore; Yields 10% return per annum

Nepal Rastra Bank has introduced foreign employment bond targeting the employees working outside the country as well as NRN’s. The bond is worth Rs 25 crore for 5 years. The people meeting the requirements can apply for the bond from Falgun 3, 2074. As per the notice published by the Rastra Bank, the bond will provide 10% interest annually. The interest will be paid in the interval of 6 months. Interested people can apply for the bonds from Falgun 3 till Falgun 23, 2074. The bond will be issued on Falgun 28, 2074. And its principal payment will be done on Falgun 28, 2079. For receiving the interest, the bondholder will be able to receive it from any desired banking institutions. The name, address and account number of the desired bank should be mentioned in the form. This bond has been introduced for Nepalese in foreign employment or those people who have returned from foreign employment and 4 months have not passed or Non Residing Nepalese (or their family members). People can apply for a minimum of Rs 5,000 to maximum of Rs 50,000. The bond can be pledged at banking institutions to obtain credit facilities. The application form can be obtained free of cost from sale agent or NRB’s website. The Rastra Bank has planned of issuing such bond worth Rs 6 arba.