20161125012405_nicNIC Asia Bank Nepal Ltd has announced the launch of a new deposit scheme ‘NIC ASIA Double Deposit’ to its valued customers on the occasion of 20th year of the successful operation of the bank. According to the bank, the scheme is available for both individuals as well as institutional customers with a minimum deposit of Rs 1,00,000 for a fixed period of time. The time period set by the bank for individuals is 9 years and for institutions is 10 years. Interest earned under this scheme will eventually double at the time of maturity even after the deduction of applicable tax (TDS) of 15% for institutions and 5% on individual accounts, reads a press statement issued by the bank. “The scheme provides a guaranteed assurance of returns to the customers that would not be affected by the fluctuation in market interest rates,” the statement says. NIC Asia Bank is currently providing services from 119 branches with 4 extension counters and also has plans to expand its branch network across the country.