NRB issuing ‘Foreign Employment Savings Bond 2081’ worth 40 crores from Magh 10

January 26, 2020 | Investopaper

Nepal Rastra Bank is going to issue Rs. 40 crores worth of ‘Foreign Employment Savings Bond 2081’ from Magh 10, 2076. The sale of the bond will remain open until Chaitra 21, 2076. Applications can be placed for a minimum of Rs.10,000 and any amount divisible by 10,000.

The Nepalese citizens who are working in a foreign country or those who have returned from foreign employment having a return date of not more than 6 months as well as NRNs are eligible to purchase the bond.

The features of the bond include:

—Interest rate is 10 percent per annum.

—Interest is payable semiannually i.e every 6 months.

—The bond has a maturity period of 5 years. The principal will be repaid in 2081.

—The bond is tradable in the market. Also, the bondholders can place the bond as collateral for the loans from any BFIs.

For full information, click here.