16 June 2024, Kathmandu
Nepal Bank Limited has announced a new interest discount facility aimed at benefiting its borrowers.
Nepal Bank Interest Discount Facility
This scheme is targeted towards customers who had taken loans from the bank before the end of Chaitra, 2075 B.S., and whose arrears have been classified as bad loans.
Under this scheme, borrowers with bad and undocumented loans up to NPR 50 lakhs have the opportunity to repay their loans with a significant interest discount.
The bank is offering a 5% discount on the simple interest amount to those who repay the entire loan amount, regularize their loans, or settle the outstanding interest.
Additionally, Nepal Bank Limited will provide a full waiver on penal interest and the interest accrued on the interest amount.
This interest discount facility will be available until the end of 2081 B.S. However, the bank has stated that certain conditions and restrictions will apply to this scheme.
For more details and to check eligibility, borrowers are advised to visit the nearest branch of Nepal Bank Limited or contact their loan officer.
For more: Nepal Bank Limited Interest Discount Facility