Kathmandu. NIC Asia Bank charges interest arbitrarily and NIC Asia Bank cheates borrowers. The regulator, Nepal Rastra Bank, has also taken action against NIC Asia Bank after it was found that it has taken more interest from the borrower and directed it to return the interest. But how does the bank charge up to 18 percent interest, or more interest? BankingSansar.com has found special facts and confidential evidence in this matter.
First of all, let’s understand how NIC Asia charges up to 18% interest in this way?
BankingSansar.com receives a confidential statement from the bank’s internal audit department that the bank has been giving credit limits through credit cards to those who have not been able to repay the loan. Through the use of the credit card, the bank is raising the installment of the loan that the borrower has not paid, and the borrower is also getting the high interest of the payment made using the credit card along with the interest on the loan. That is, giving the option of a credit card to raise the loan, pulling the payment of the bank’s installment from that card, and putting the borrower in the trap of double interest.
Credit card interest is also expensive. The amount used to pay the installment remains with the bank as a liability, and its interest is also expensive. It is fine for a while, but if you are unable to repay the loan for a long time, the bank’s debt, and interest, are added to the back. It has been found that the interest burden of the borrower is up to 18 percent when the installment payment through credit card and the previous loan is calculated.
According to the bank’s internal details obtained by BankingSansar.com, the number of people paying credit cards to pay the loan installment is not in hundreds, but in thousands.TAG_OPEN_div_17 The internal audit department of the bank has also informed the CEO of the bank. The current CEO of the bank, Santosh Rathi, has done this with the direct connivance of the bank.
