Kathmandu, Oct. 2
Nepal Bank Limited has announced
a new housing loan product with a 7.7 per cent interest rate. The bank said in
a statement that it is the affordable loan product in the market with the
lowest interest rate.
Named 'Sarbasulav Awas
Karja', this housing loan can be used to buy a house or apartment, build a new
house, repair or maintain, and swap a loan from other banks.
The bank has offered a
maximum discount of 33.33 per cent on the service charges for loans of Rs.
500,000 to Rs.20 million for a repayment period of five to 25 years.
In addition to this, the
bank has also reduced the interest rates of various loans, including auto loan
and business loans. The loan limit of a business loan is up to Rs. 100 million
with an interest rate of 8.28 per cent. Customers can use this loan for working
capital and fixed capital management.
Similarly, the period of
auto loans is five and seven years. The interest rate on auto loans is
currently 7.78 per cent.
NBL is offering its
services from 229 branches, 60 extension counters and 205 ATM counters across
Nepal.
Published in The Rising Nepal daily on 3 October 2024.
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