Everest Bank has announced the issuance of debentures worth Rs. 3 billion starting from Falgun 18. The bank will issue a total of 3 million units of debentures, with 1.8 million units allocated for individual investors and 1.2 million units for the general public.
Key Details of the Upcoming Debenture
Investment Details
The debentures offer an annual interest rate of 7.5%, which is approximately 1.5 percentage points higher than the current average interest rate offered by banks on fixed deposits, which stands at around 6%. The minimum investment required is 25 units.
Maturity and Trading
The debentures have a tenure of 10 years and will mature in the year 2091. However, they can be traded in the secondary market. Additionally, if necessary, investors can use these debentures as collateral to obtain loans from other banks.
Application Process
Interested applicants can apply online through the Mero Share system. The deadline for applications is Falgun 21. If all units are not sold by this date, the application period will be extended until Chaitra 3.
Conclusion
Everest Bank’s debenture issuance presents a lucrative investment opportunity with a higher interest rate compared to current fixed deposit rates. The debentures are available for both individual and public investors, with a minimum investment requirement of 25 units. The application process is streamlined through the Mero Share system, ensuring a convenient and efficient investment experience.