NIC Asia Bank Introduces Loan Repayment Discount Scheme to Aid Customers Amid Economic Stagnation

NIC Asia Bank committed to responsible banking under the slogan "Bank pani sathi pani, ramro pani hamro pani" has launched a significant discount scheme to support borrowers affected by the current economic slowdown. This initiative, effective until the end of Ashadh 2081, aims to alleviate the financial burden on customers struggling with loan repayments.

The bank has introduced a tiered discount system on fines, damages, and simple arrears interest for borrowers who repay their entire loan amount by the specified deadline. The discount rates are as follows:

1. For loans overdue by 91 to 180 days: 15% discount on simple interest amount.
2. For loans overdue by 181 to 365 days: 25% discount on simple interest amount.
3. For loans overdue by more than 365 days: 35% discount on simple interest amount.

Customers facing financial difficulties with various types of loans from NIC Asia Bank, including working capital loans and other revolving loans with monthly or quarterly installments, are eligible to participate in this scheme.

In response to the urgent financial needs of its stakeholders, NIC Asia Bank's discount scheme is designed to reduce the financial burden on borrowers. The bank believes this initiative will contribute to the recovery and long-term strengthening of the national economy by offering much-needed relief to customers during these challenging times.

NIC Asia Bank remains dedicated to supporting its customers through responsible banking practices. This discount scheme not only aims to ease the financial stress of borrowers but also underscores the bank's commitment to the broader economic well-being of Nepal.