If you are not new to Nepali share market or you have been applying for IPO’s you must have heard about ASBA/C-ASBA at some point of your time. ASBA stands for Application Supported by Blocked Amount.
ASBA/C-ASBA is a system by which it allows to block amount from the user’s Bank account while they purchase publicly issued securities like Initial Public Offering (IPO). Later if the security is alloted to the purchaser, the equivalent amount is deducted from their bank account else the money gets returned to the respective account.
For example. While we apply IPO’s through Mero Share application the equivalent amount is blocked in our bank. Later if we are alloted with shares the amount gets deducted from our bank else they get released to our bank.
The modified version of ASBA which is started by CDS and Nepal Clearing Limited that allows Mero Share to be linked with ASBA accepted financial bodies in Nepal is called C-ASBA.
In Nepal 65 banks and financial bodies have been granted permission to exercise ASBA service.
There are Banks in Nepal that charge upto NRS 100 while applying IPO’s and other securities as part of ASBA charge. But in this post we are going to list few banks who do not charge any fee while purchasing securities.
List of Nepali Banks that do not charge ASBA fee
- Bank of Kathmandu Limited (BOKL)
- NIC Asia Bank Limited (NIC)
- Global IME Bank Limited (GBIME)
- Himalayan Bank Limited (HBL)
- Mega Bank Limited (MEGA)
- Nabil Bank Limited (NABIL)
- Nepal Bangladesh Bank Limited (NBB)
- Nepal Credit and Commercial Bank Limited (NCC)
- Rastriya Banijya Bank Limited (RBB)
- Sanima Bank Limited (SANIMA)
- Siddhartha Bank Limited (SBL)