KATHMANDU: NIC Asia Bank, one of the leading banks in Nepal, has announced the launch of a new product named ‘NIC Asia Personal Loans’. This product has been launched with an aim to cater to the financial needs of professionals like doctors, engineers, chartered accountants, insurance professionals, and others having regular employment and stable source of income. This product is an EMI based loan without requirement of any collateral. To meet the immediate requirements, the bank could sanction loan of up to Rs 1.5 million to an individual with a maximum tenure of five years. Those interested can send SMS by typing ‘PLN’ to 4488 for further details.