Garima Bikas Bank Limited and the Federation of Electrical Entrepreneurs of Nepal have signed a memorandum of understanding (MoU) to collaborate.

On Wednesday, the MoU was signed by Anil Regmi, Deputy Chief Executive Officer of Garima Bikas Bank Limited, and Resham Prasad Devkota, Chair of the Federation of Electrical Entrepreneurs of Nepal.

Under this agreement, the Federation of Electrical Entrepreneurs of Nepal will facilitate its members in establishing professional banking relationships with Garima Bikas Bank, enabling them to conduct banking transactions with ease.

Entrepreneurs affiliated with the Federation will be able to access business loans at an attractive interest rate of 8.48% under the bank’s recently introduced commercial loan scheme.

Additionally, they will be eligible for small and medium-sized business loans at a premium rate of 0.75%, as well as a range of other services including home loans, vehicle loans, share loans, gold and silver collateral loans, and credit card facilities, all in compliance with current laws and regulations.

To support this initiative, Garima Bikas Bank has also set up a dedicated loan desk to assist with the processing of these services.