NIC Pure Gold

1. What form is Gold being sold as?
   
2. What is the fineness of gold available?
   
3. In which branches of the Bank are Gold bars available?
   
4. Is gold imported?
   
5. What is the authenticity proof?
   
6. Who can buy the gold?
   
7. What is the price that the gold will be sold at?
   
8. Does NIC offer loan facility against gold purchased from the market / gold ornaments?
   
9. Does NIC Bank offer custodian service for gold purchased from the bank?
   
10. Will NIC Bank buy back the gold sold by it?
    
11. How can I buy gold through a Branch?
    

1. What form is Gold being sold as?
Gold is being sold in the form of bars of 1 Kg and 100 grams.

2. What is the fineness of gold available?
The 1Kg gold bar has fineness of 99.5%, whereas 100 grams gold bar has fineness of 99.9 %.

3. In which branches of the Bank are Gold bars available?
Gold bars are currently available in Kamaladi & New Road branches within the Kathmandu Valley and Biratnagar, Dharan, Janakpur, Birgunj & Pokhara branches outside the Valley. 4. Is gold imported?
Yes, NIC Pure Gold bars are imported from the Perth Mint, Australia, which is world famous for its quality and adoption of the highest standards in manufacturing.

5. What is the authenticity proof?
The gold is available with Certificate of Assay issued by the manufacturer with details on the product, brand, weight, bar number and the fineness (purity).

6. Who can buy the gold?
Both NIC Bank Customers and non-NIC Bank customers are eligible to buy gold. However, NIC Bank customers can issue a Cheque from their account or provide a debit mandate towards purchase of gold.

7. What is the price that the gold will be sold at?
The price will depend upon the international market rate of gold at the time of transaction.

8. Does NIC offer loan facility against gold purchased from the market / gold ornaments?
No, NIC does not offer loan facility against gold purchased from the market / gold ornaments. However, it offers financing up to 75% of the purchase price for purchase of NIC Pure Gold taking the sold gold itself as collateral.

9. Does NIC Bank offer custodian service for gold purchased from the bank?
Yes, NIC does offer custodian facility for gold purchased from the Bank.

10. Will NIC Bank buy back the gold sold by it?
NIC Bank does not buy back the gold sold by it.

11. How can I buy gold through a Branch?
You can buy gold through an NIC Bank branch by following these simple steps:

• Visit the Pure Gold counter in any branches outlined above and inform the type of gold you want to purchase (Kg bar or Gram bar) along with the mode of payment.
• Fill in the Gold Purchase Application Form and submit it to Pure Gold counter.
• Based on the price quoted by the Bank deliver the cash/Cheque (Good for Payment Cheque if the Cheque is for accounts maintained at some other banks) to the cashier.
• Cashier will acknowledge the receipt and give the acknowledgment to you and send other part of the slip to the front desk for issuance of gold bars.
• Produce the acknowledgment slip at the Pure Gold counter on the basis of which the gold bars will be delivered to you.