May 20, 2020 | Investopaper
Nepal Bank is going to give a discount of two percentage points on the interest rate fixed in the end of Chaitra. The government has been imposing nationwide blockade due to the corona infection. Hence, to reduce the impact on industrialists, businessmen and other debtors due to lack of economic and business activities, the bank will provide the discount on the interest payment.
According to the spokesperson of Nepal Bank, Prakash Kumar Adhikari, the discount is for those borrowers who have paid the quarterly interest, installments and other dues until Chaitra end and those who paid monthly installments, interest and other dues until Falgun end, 2076. Such customers will get a discount of 2 percentage points on the interest for the period from Baisakh to Ashad if they continue the loan until the fourth quarter.
Customers who have already paid the installment in Baisakh 2077 BS will also get such discount facility. By providing this type of discount facility, some customers will be able to get the minimum interest rate facility equal to the base rate of the bank i.e. 7.82 percent.