Kathmandu, May 3: The government is going to raise 1 billion rupees as domestic debt through the Foreign Employment Savings Certificate. Nepalis who are in foreign employment or who have not returned from employment for less than 6 months can apply for this savings certificate, which will be issued from May 5 to June 4.
According to the Public Debt Management Office, the 5-year savings bond will earn 9 percent interest annually and the interest will be paid semi-annually. One can apply for a savings bond with a minimum balance of 10,000 and a maximum of 10,000.
Nepali citizens or non-resident Nepali citizens who are engaged in employment outside the country or who have not returned from employment outside the country for less than 6 months can purchase it in the name of themselves or their family members. Savings certificates can be borrowed or given as collateral from banks and financial institutions and can be bought and sold through the secondary market at any time. It is mentioned in the notification.
People’s News Monitoring Service.
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