Neapl Rastra Bank will collect 3 billion loans from citizens and 500 million through foreign employment

Mar Fri 2023 04:17:43

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Neapl Rastra Bank will collect 3 billion loans from citizens  and 500 million through foreign employment

Kathmandu. Nepal Rastra Bank is going to issue foreign employment savings bonds worth 50 million rupees. Nepalese who are earning money by working abroad or who have returned from foreign employment within 6 months can invest in the said savings bank. For this purpose, it is not only Nepalese who have a work permit for foreign employment, but even if they have gone abroad on a student or other visa, they can invest by gathering evidence of their earnings abroad.

Families of Nepalese who are employed outside the country or have returned from foreign employment can also invest in foreign employment savings bonds. There is a provision that the father, mother, husband, wife, son or daughter of a person working abroad can invest in such a savings bond. Those who go to India for seasonal employment will also be able to fill the form and invest in savings bonds from there.

The National Bank has said that it will give 12 and a half percent interest on this savings bond. It is seen that investing in savings bonds is more beneficial than keeping deposits in the bank as it is sure that the interest rate will not decrease for 5 years. Currently, the commercial bank is giving 11 percent interest on term deposits, but the possibility of gradually reducing the interest has increased. The bank, which is going to reduce the interest rate on savings accounts from March 1, is likely to reduce the interest rate on term deposits by another 1 percentage point to 10 percent from May.

Rastra Bank has given a deadline till 3rd of Chait to apply for savings bonds. Rastra Bank has mobilized agents from various banks in Nepal as well as abroad to collect applications for savings bonds. According to the National Bank, sales agents have been appointed to various banks and remittance companies in Qatar, Saudi Arabia, India, United Arab Emirates, Oman, South Korea, Israel, Japan, Malaysia, Iraq, Kuwait and Australia.

For this, the form can be downloaded and filled from the website of the National Bank and submitted to the designated bank and financial institution or the contact office located abroad. Eligible persons can apply directly by going to this link of Rashtra Bank.