The government is set to sell Rs 3 billion worth of citizen savings bonds again as part of its internal debt-raising strategy.
The Public Debt Management Office (PDMO) issued a notice on Wednesday, informing that interested buyers can apply for the bonds from February 27 to March 28. The savings bond carries an annual interest rate of 7 percent. Applicants can purchase bonds in multiples of Rs 10,000, provided the minimum investment is Rs 10,000 and does not exceed the total released amount.
Both Nepali citizens and non-resident Nepalis are eligible to buy the bond. According to the PDMO, the bond will be issued by March 31 and will mature in five years. Investors can use the bond as collateral for loans, and interest payments will be made semi-annually.
Additionally, the government is offering foreign employment savings bonds worth Rs 500 million. Applications for these bonds will also be open from February 27 to March 28, with an interest rate set at 8.5 percent.
Nepali citizens or non-resident Nepalis who have not completed six months of foreign employment or have recently returned from employment abroad can purchase these bonds in their own name or in the name of their family members. The bond will also mature in five years.
