f the family member of a client wants to go abroad for employment then the client can apply for this loan provided that then client is enrolled in the program for the last one year and has a good track record of credit and saving in the center.
Last Updated Date: May 17, 2022
Nabil Bank Limited is the first private sector bank in the nation and has been operating since July 1984. With the aim of expanding the international standard of modern banking services to different segments of society, Nabil was integrated. In pursuing its goal, through its 118 points of representation, Nabil Bank offers a full range of commercial banking services. In addition to this, Nabil has a presence throughout the nation through over 1500 Nabil Remit agents. As a leader in the introduction of many revolutionary products and marketing concepts in the domestic banking industry, Nabil started a period of modern banking with customer loyalty calculated as a focal target while doing business. A highly skilled and seasoned management team oversees the bank's affairs, including day-to-day affairs and risk management. The bank is completely equipped with advanced technology, including international standard banking applications enabling e-channels and e-transactions. For all its stakeholders, clients, shareholders, regulators, societies, and employees, Nabil is going forward with a vision to be the 1st option provider of full financial solutions. Nabil is committed to providing its stakeholder's excellence in a variety of areas, not just one measure, such as profitability or market share. It is mirrored in its Together Ahead Brand Pledge.
An employee loan is money advanced by a business to assist an employee. Similar to personal and business lending, employee loans typically come with an interest rate and repayment schedule. However, employee loan interest rates are usually a small fee to cover the cost of administering the loan program, and any tax liabilities the employer may incur. The employee pays back the loan in accordance with the repayment schedule typically via deductions in their future paychecks. In this way, employee loans can be looked at as an advance on future earnings by the employee. Employees that have received some type of assistance from their employer may be more likely to stick around. Knowing that the employer helped during their time of need and placed faith in them to repay the loan may make employees feel more committed to an employer. This may help with retention and job satisfaction. If an employee is concerned about family medical bills piling up, overdue rent, or other financial concerns, it can make it difficult to focus on work. Lending an employee money to work through these difficulties may help that employee to improve work focus and productivity. Knowing that the employer loaned the money may motivate the employee to work harder, as well. Every situation varies, but if an employee asks for a loan in order to meet regular and recurring obligations like rent and utilities, extending a loan may do more harm than help. If the employee is already having trouble meeting obligations, adding another monthly bill on top of the other obligations may add stress. In this case, recommending financial counseling may be a better option than extending a loan that will likely not be repaid.
Giving loans to employees might actually have some benefits for your business, including: