In line with the Government of Nepal’s initiative to provide subsidised loan to promote entrepreneurship in the deprived sectors, NMB Bank launched 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 Rs. 10 Lakhs, NMB Educated Youth Self-Employment Loan up to Rs. 7 Lakhs, NMB Youth Returned from Foreign Employment Project Loan up to Rs. 10 Lakhs, NMB Business Loan to uplift under privilege community up to Rs. 10 Lakhs, NMB Higher and Technical or Commercial Education Loan up to Rs. 5 Lakhs, NMB Loan for Earthquake Victims for building their residence up to Rs. 3 Lakhs and NMB Mahila Udhyamshil Karja up to Rs. 15 Lakhs.
In the press statement, the bank mentioned that amongst the eight loan products, NMB Agrani Mahila Krishi Karja is a new and unique product. It offers loan upto Rs 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.