July 8. 2020 | Investopaper
NIC Asia Bank is going to apply maximum 9.99 percent interest rate on loans from Shrawan 1, 2077. The bank is going to provide this facility to the customers who have paid the entire principal and interest arrears by Ashad end.
The bank has stated that 9.99 percent interest rate will be applicable to the customers who have availed any loan from the bank including monthly and quarterly installment loans as well as current capital loans and other revolving loans.
As per the directive of Nepal Rastra Bank, the monthly or quarterly installment loans that have to be repaid by Chaitra end, 2076 have been waived if the borrowers pay the amount with Chaitra.
According to the bank, it has credited the remaining monthly and quarterly installments, including interest, to the bank accounts of the concerned customers by providing 10 percent discount on general interest and 100 percent discount on penalty interest.
Establishment of Credit Assistance Center
The Bank has set up a Credit Assistance Center with the objective of effectively resolving the grievances and suggestions of the customers in a timely manner.
The bank says that the customers of the bank can easily get information about the eligibility for their loan, loan form, interest rate, renewal, new loan and other solutions at home.
After first contacting the loan assistance center, the bank’s representative will contact with the customer within three hours and provide detailed information and resolve the related queries and complaints within two working days, the bank said.