CIT changes interest rates

Kathmandu, July 15

Citizen Investment Trust (CIT) has changed the interest rate provided to its participants

It has increased the interest rate for the Employee Saving Growth Retirement Fund from 6.5 per cent to 8 per cent, and has fixed the interest rate of 80 per cent special loan agreement at 9.5 per cent.

The new rates will come into effect from July 1, Sunday.

Similarly, the interest rate for housing and educational loans will be 10 per cent while vehicle and simple loans will be 10.5 per cent.

Likewise, gratuity fund and investor account schemes will draw 7.5 per cent and 9 per cent interest for civil unit schemes.

The CIT has decided to provide an annual interest of 7.5 per cent for all insurance programmes.

Under the insurance programme, the Trust has been collecting insurance fees for the operation of the government employees including civil servants, Nepali army, Nepal police, Armed Police Force, and community school teachers.

Published in The Rising Nepal on 16 July 2022.