Posted by: pleasedon'thateme September 18, 2010
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Questions:It looks like banks give you an interest rate of 12% for 5 year fixed deposits in Nepal. How long is this interest rate expected to be so high? 5 years, 10 years, 40 years?
Are there companies that provide health insurance in Nepal? How good are they? What's the cost?
Long Story: For the last few years I have been seriously considering returning to Nepal for good. I've lived in the US for 12 years. Came here when I was 18 for my undergraduate. I have a Masters Degree and 6+ years of full-time work experience. My work is in a pretty specialized field and as far as I know I won't be able to find any work in my field in Nepal .I didn't want to return unless I had decent amount of savings. These have been stopping me from going back. I was fortunate enough to get a good job right out of college. I've been living in one of the cheapest cities in the US and I am bit of a minimalist so every year I have been saving some money. In a few weeks I will hit my target saving of Rs 50 lakh. It seems banks give you an interest rate of around 12% yearly on 5 year fixed deposits in Nepal. That would mean that I would be making Rs 50,000 (fifty thousand) monthly in interest in Nepal. I have a home in Nepal (parent's home but I am the only son). I don't have any aspirations of marriage or having kids. I am pretty sure that I can live a comfortable life in Nepal with 50,000 monthly for 1 person. My plan is to keep on putting the Rs 50 lakh in a fixed deposit and live off the interest rate for the rest of my life. My parents are middle-class but they are financial stable enough that they can support themselves for the rest of their life barring medical emergencies. However, I am concerned about the future interest rates in Nepal ,will the interest rates continue to be so high for the next 50 years? What about the health care costs? How would someone like me prepare for medical emergencies (for myself and my parents) in Nepal. Is there health insurance in Nepal? How good are they?
Interest Rate Example: http://www.nbbl.com.np/interest.php
Comparison: http://www.nepali.im/discussion/19/best-interest-rate-saving-account-in-nepal
Are there companies that provide health insurance in Nepal? How good are they? What's the cost?
Long Story: For the last few years I have been seriously considering returning to Nepal for good. I've lived in the US for 12 years. Came here when I was 18 for my undergraduate. I have a Masters Degree and 6+ years of full-time work experience. My work is in a pretty specialized field and as far as I know I won't be able to find any work in my field in Nepal .I didn't want to return unless I had decent amount of savings. These have been stopping me from going back. I was fortunate enough to get a good job right out of college. I've been living in one of the cheapest cities in the US and I am bit of a minimalist so every year I have been saving some money. In a few weeks I will hit my target saving of Rs 50 lakh. It seems banks give you an interest rate of around 12% yearly on 5 year fixed deposits in Nepal. That would mean that I would be making Rs 50,000 (fifty thousand) monthly in interest in Nepal. I have a home in Nepal (parent's home but I am the only son). I don't have any aspirations of marriage or having kids. I am pretty sure that I can live a comfortable life in Nepal with 50,000 monthly for 1 person. My plan is to keep on putting the Rs 50 lakh in a fixed deposit and live off the interest rate for the rest of my life. My parents are middle-class but they are financial stable enough that they can support themselves for the rest of their life barring medical emergencies. However, I am concerned about the future interest rates in Nepal ,will the interest rates continue to be so high for the next 50 years? What about the health care costs? How would someone like me prepare for medical emergencies (for myself and my parents) in Nepal. Is there health insurance in Nepal? How good are they?
Interest Rate Example: http://www.nbbl.com.np/interest.php
Comparison: http://www.nepali.im/discussion/19/best-interest-rate-saving-account-in-nepal
Last edited: 18-Sep-10 06:28 PM