NIC Asia Bank Launches New 'Gold Loan' Scheme with Competitive Interest Rates

Kathmandu. NIC Asia Bank has unveiled a new 'Gold Loan' scheme for its customers at a low-interest rate. The bank has introduced this loan facility, which can be availed by pledging gold or gold jewelry as collateral, keeping in mind the contemporary demands and needs of the customers.

Under this scheme, customers can take a loan up to NPR 5 million by pledging gold bars or jewelry as collateral. The bank stated that this loan will be available at a competitive interest rate, adding only 1 to 3 percent premium over the average base rate.

Customers will receive a loan facility of up to 70 to 80 percent of the market value of the collateral they pledge. Furthermore, the bank has also arranged for loans for those wishing to purchase new jewelry.

According to the bank, this loan facility can be easily obtained from various designated branches. To further simplify the loan process and immediately address customer queries and complaints, the bank has also established a 'Loan Assistance Center' under a one-stop system, informed Jayendra Rawal, the bank's Chief Information Officer.