NMB Bank launches a host of ‘first of its kind’ products

In line with the Government of Nepal’s  initiative to provide subsidized loan to promote entrepreneurship in the deprived sectors, NMB Bank has announced the launch of eight loan products in its Micro Finance portfolio under the umbrella of ‘NMB Interest Subsidy Loans’. Of the eight loan types offered, seven of the loans are ‘Collateral free’ and provides enterprising individuals the opportunity to pursue a future of sustainable growth.

The seven loan products under NMB Interest Subsidy Loan include:

• NMB Commercial Agriculture and Livestock Loan – up to NPR. 10 Lakhs
• NMB Educated Youth Self-Employment Loan – up to NPR. 7 Lakhs
• NMB Youth Returned from Foreign Employment Project Loan - up to NPR. 10 Lakhs
• NMB Business Loan to uplift under privilege community - up to NPR. 10 Lakhs
• NMB Higher and Technical or Commercial Education Loan - up to NPR. 5 Lakhs
• NMB Loan for Earthquake Victims for building their residence - up to NPR. 3 Lakhs
• NMB Mahila Udhyamshil Karja – up to NPR. 15 Lakhs

Amongst the eight loan products, NMB Agrani Mahila Krishi Karja is a new and unique product. It offers loan unto NPR 15 Lakhs to women farmers for purchase of agriculture inputs, with 6% subsidy on interest and further tops off with zero processing charge to the sectors identified by the Government.

Simultaneously, NMB Bank is for the first time in the country launching a savings product with insurance coverage against 18 critical illnesses, accidental death and permanent total disability. NMB Sahara Bachat Khata offers the high interest on savings and comes with NMB Delight Card which allows FREE withdrawal from any ATM across the country and reduced withdrawal charge of NPR 150 for ATM transactions in India.

Speaking at the press conference organized for the launch of the products, Mr. Sunil KC, CEO, NMB Bank said ‘NMB Bank propounds  sustainable and value based banking, we have tried to ensure that the same is translated in our product and service offering, that is what differentiates  NMB bank from competition and we believe that the range of product offerings that we are introducing will not only add value to the Government’s initiative but also act as a catalyst for  long term sustainable growth of our customers and safeguard them against the unforeseen future. The Bank having won the ‘Bank of the Year’ award from The Banker, the Financial Times, United Kingdom for the second time in a row this year, introducing these products is our way of expressing  gratitude to our customers  for their continuous support.’

NMB Bank has network strength of 110 branches across the country and propounds value based and sustainable banking. The Bank was awarded the ‘Bank of the Year – 2018’ by The Banker, the Financial Times for the second consecutive time.