Nepal Rastra Bank's Instruction - Don't take advance payment of loans up to 50 lakhs

Apr Tue 2023 02:37:47

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Nepal Rastra Bank's Instruction -  Don't take advance payment of loans up to 50 lakhs

Kathmandu. Nepal Rastra Bank has arranged that no advance payment fee can be charged in case of early repayment of any loan up to 50 lakh rupees. Rastra Bank has decided not to charge an advance payment fee when repaying the loan before the due date as it is the period for paying the installments and interest of the loan at the end of March.

The bank has also said that if the bank and financial institution charge any fee or give information about the charge during the prepayment of such loan, it should be made available on the respective bank's website when complaining to the officer who hears the complaint. By doing this, if the complaint is not heard by the institution, it is suggested to register the complaint with the Financial Customer Protection Unit in Nepal Rastra Bank. 

Prime Minister Pushpa Kamal Dahal "Prachanda" has said that he will find a way to make the economy viable by opening real estate business by reducing interest rates. He said this in a discussion with the governor of the bankers and Rashtra Bank on Monday.

He said that the government is looking for various measures to reduce the interest rate of banks. In the discussion held with representatives of banks and financial sector, the Prime Minister said that the government is serious about improving the economy.