As a Nepalese worker in the UAE, sending money home isn’t just a transaction—it’s a lifeline for your family back in Nepal. With over 500,000 Nepalese migrant workers in the Gulf, remittances play a crucial role in Nepal’s economy, totaling billions of NPR annually. But navigating high fees, slow transfers, and unreliable services can eat into your hard-earned salary. That’s where NIC Asia Bank steps in as a game-changer.
Established in 1998, NIC Asia Bank is one of Nepal’s leading commercial banks, with over 350 branches, extensive ATM networks, and a strong focus on digital innovation. In 2025, it’s particularly attuned to the needs of Non-Resident Nepalese (NRNs) like you—offering low-cost remittances, high-interest savings tailored for abroad workers, and seamless mobile banking. Whether you’re in Dubai, Abu Dhabi, or Sharjah, NIC Asia makes managing finances from afar effortless and rewarding.
In this comprehensive guide, we’ll explore why NIC Asia Bank stands out for Nepalese migrants, backed by its latest 2025 offerings. Let’s dive in.
1. Lightning-Fast and Affordable Remittance Services
Remittances are the backbone of your financial strategy abroad. NIC Asia Bank’s NIC ASIA Remit is an exclusive online platform designed for hassle-free international transfers, ensuring your money reaches Nepal instantly and securely. Here’s why it’s a top pick:
Key Features:
- Instant Crediting: Funds hit your or your family’s NIC Asia account within minutes—no waiting days for clearance.
- Wide Payout Network: Over 1,000+ partner agents across Nepal for cash pickups, plus direct bank deposits.
- UAE-Specific Partnership: In a strategic tie-up with UAE’s Al Ansari Exchange (announced in 2023 and expanded in 2025), you can send money from any Al Ansari branch in the UAE. This covers 200+ outlets in Dubai, Abu Dhabi, and beyond, with competitive exchange rates and minimal fees (often under AED 10 for transfers up to AED 5,000).
- Security First: Full AML compliance, encrypted transactions, and 24/7 fraud monitoring to protect your remittances.
- Fees and Rates: Zero incoming fees for NIC Asia accounts; outgoing fees as low as 0.5% (capped at NPR 1,000). Better than competitors like IME or Prabhu, especially for frequent small transfers.
Real-World Benefit: Imagine finishing your shift in Jebel Ali and transferring NPR 50,000 home for your child’s school fees—it arrives before dinner in Kathmandu. No more lost weekends chasing agents!
How to Send via Al Ansari:
- Visit an Al Ansari branch with your Emirates ID and amount.
- Specify NIC Asia as the receiving bank (include recipient’s account number).
- Get a receipt—funds credited in under 30 minutes.
In 2025, NIC Asia processed over NPR 200 billion in remittances, with a 15% YoY growth from UAE alone, proving its reliability for Gulf workers.
2. High-Yield Savings Accounts Tailored for Migrant Workers
Saving abroad is tough with UAE’s high living costs, but NIC Asia’s remittance-focused accounts turn your inflows into smart growth. These are NRN-friendly, openable remotely, and packed with perks.
Standout Option: Sarbashrestha Remittance Bachat Khata IPO
Launched in July 2025, this zero-balance savings account is a migrant worker’s dream, exclusively for Nepalese with a valid work permit (“Shram Swikriti”).
Eligibility: Nepalese abroad with valid visa and work permit. Open online—no need to visit Nepal.
Features & Benefits:
- Zero Minimum Balance: Start saving without pressure.
- Higher Interest Rates: Earn at least 1% p.a. more than standard savings (current base rate ~7.5%, so up to 8.5% in 2025).
- Exclusive IPO Quota: Access 10% of Nepal’s government-reserved IPO shares for foreign workers—apply directly from your remittances for long-term wealth building.
- Digital Perks: Free payments at 1,000+ merchants via QR codes; easy family access back home.
- Online Opening: Use the MoBank app or website—upload docs remotely.
Pro Tip: Route your monthly UAE salary (e.g., AED 3,000 = ~NPR 1.1 lakh) here for compounded growth. In one year, that’s NPR 10,000+ extra interest!
Premium Fixed Deposits: Sarbashrestha Remittance Muddati Khata-General
For those parking larger sums, this fixed deposit offers flexibility and high returns for migrants and their families.
- Tenure: 3 months to 15 years—perfect for short UAE contracts or long-term savings.
- Interest Rates: Up to 9.5% p.a. (2025 rates; higher for longer terms).
- Eligibility: Linked to the Bachat Khata; open for you or family.
- Benefits: Premature withdrawal options (with minor penalty); digital servicing.
These accounts comply with Nepal Rastra Bank’s NRN guidelines, allowing foreign currency holdings and easy repatriation.
| Account Type | Min. Balance | Interest Rate (2025) | Key Perk | Best For |
|---|---|---|---|---|
| Remittance Bachat IPO | NPR 0 | 7.5–8.5% p.a. | 10% IPO Quota | Monthly Savers |
| Remittance Muddati FD | NPR 10,000 | Up to 9.5% p.a. | Flexible Tenure | Lump-Sum Investors |
3. Empowering Digital Banking from the UAE
Forget branch visits—NIC Asia’s MoBank App lets you bank like a local from anywhere in the UAE.
- Core Features: Balance checks, fund transfers, bill payments (Nepal Electricity, telecom), and remittance tracking—all in Nepali/English.
- Security: Biometric login, OTP, and real-time alerts; Fonepay integration for discounts on UAE-Nepal shopping.
- Migrant-Specific: Monitor family accounts, set auto-remittances, and apply for IPOs via app.
- Availability: Free on Google Play/App Store; works seamlessly on UAE networks like Etisalat/du.
In 2025, MoBank boasts 2 million+ downloads, with 40% from abroad users—proving its edge for migrants.
4. Financial Support: Loans for Your Journey Home and Beyond
Planning a visit to Nepal or starting a business back home? NIC Asia offers targeted loans, though primary eligibility favors residents—migrants can leverage remittances for collateral.
- Foreign Employment Loan (via NIC Asia Laghubitta): Up to NPR 200,000 at 15% interest for job-seeking or visa costs; 36-month tenure.
- Personal Loans: For family in Nepal (salaried/pensioners); up to NPR 2 million at 12–14%.
- NRN Perks: Use savings as collateral for home/education loans upon return.
Low processing fees (1–2%) and quick approvals make these accessible.
Why NIC Asia Bank Outshines the Competition for UAE-Based Nepalese
| Feature | NIC Asia | Competitors (e.g., IME, Global IME) |
|---|---|---|
| Remittance Speed | Instant via App/Partners | 1–2 Days |
| UAE Network | 200+ Al Ansari Branches | Limited |
| Savings Interest | Up to 8.5% + IPO Access | 6–7% Standard |
| App Usability | Full Nepali Support | Basic English |
| Fees | <1% Outgoing | 1–2% + Hidden Charges |
NIC Asia’s 2025 innovations—like Alipay integration for tourists (adaptable for NRNs)—and zero-fee e-commerce cards add value. User feedback on X highlights its reliability: “Easy remittances from Dubai—family loves the instant alerts!” (Recent post).
How to Get Started with NIC Asia Today
- Download MoBank: Sign up with your passport/NRN status.
- Open Remittance Account: Upload work permit online (10 mins).
- Link UAE Salary: Set up auto-transfer via Al Ansari.
- Contact Support: Call +977-1-5970018 or email info@nicasiabank.com; UAE helpline available.
For UAE residents, visit a partner exchange or use the app—zero hassle.
Final Thoughts: Secure Your Future with NIC Asia
In a world of volatile exchange rates and rising costs, NIC Asia Bank isn’t just a bank—it’s your partner in prosperity. From instant UAE remittances to IPO-boosted savings, it empowers Nepalese migrants to build wealth, support families, and plan returns. As Nepal’s remittance inflows hit NPR 1.5 trillion in 2025, choosing NIC Asia means more money home and more peace of mind abroad.
Ready to switch? Head to NIC Asia’s Remittance Page or download MoBank now. Share your NIC Asia story in the comments—we’d love to hear how it’s helping your journey!
Jai Nepal! 🇳🇵 (Updated December 2025 – Rates subject to NRB changes. Consult official sources.)