July 10: Citizen Investment Trust (CIT) has signed an agreement with Himalayan Bank Ltd for the loan re-payment of its ESG Retirement Fund (80 percent loan) through connectIPS e-Payment.
Raman Nepal, executive director of CIT, and Mrigendra Pradhan, executive operating officer of Himalayan Bank, signed the agreement on behalf of their respective organisations amid a recent function, reads a joint statement issued by the signatories.
With this agreement, the account holders of CIT who have availed the 80 percent loan against their deposits at CIT will be able to repay their loan online directly from their bank accounts through connectIPS.
According to the statement, the account holders will no longer need to go to CIT office or its designated bank for such repayments. They can easily repay the loan and/or interest directly from the bank account at any of the 50 member banks and financial institutions of connectIPS.
For the repayment of loan, the customers need to have a user ID in connectIPS with at least one bank account linked to any of the member BFIs and verified in the system that can be used to login into www.connectips.com. The customer can select the CIT Payment options and then chooses its bank account for making the payment. The customer will have to fill other needed informations like payment amount, name, CIT number, mobile number, organisation name and CIT number. Upon submission of the transaction this will directly debit the customer's bank account and credit CIT's bank account held at Himalayan Bank Ltd.