NIC Asia Bank Launches Interest Rate Rebate Program to Aid Borrowers

NIC Asia Bank launched a special interest rate rebate program to assist customers facing financial challenges. Effective from Poush 2080 BS, the initiative aims to ease the burden of dormant loans caused by economic instability. Borrowers enjoy a waiver of interest and installments up to Chaitra 2080 BS, with discounts ranging from 10% to 20% based on loan classification.

With 360 branch offices, 670 ATMs, and 51 branchless banking service points nationwide, NIC Asia Bank serves approximately 25% of the economically active population aged 20-50 years. The bank's contributions to the national exchequer exceed Rs. 23.7 Arba to date, with an additional Rs. 3.61 Arba in the previous fiscal year.

NIC Asia Bank's expansion efforts extend to underserved districts like Mugu, Kalikot, Bajhang, Rukum, Jumla, and Salyan, as well as the establishment of branches in 34 local governments previously devoid of banking services. With 72% of its branches located in rural and semi-urban areas.