10th October 2025, Kathmandu
The dream of securing a home for your family and owning a comfortable vehicle is a common aspiration, yet the path to achieving both can often seem daunting. Recognizing this fundamental need, Everest Bank Limited has thoughtfully launched the groundbreaking “Double Keys, One Dream” loan program.
EBL’s Housing and Vehicle Loan
This innovative initiative is meticulously designed to provide robust and streamlined financial support, specifically targeting individuals and families in Nepal who are ready to unlock both the key to their new house and the key to their new vehicle. By combining these significant financial milestones into one accessible program, Everest Bank is reinforcing its position not just as a financial institution, but as a dedicated partner in fulfilling personal and family ambitions. This article dives deep into the features, benefits, and specifics of this tailor-made loan program, showing you how Everest Bank is making the dream of homeownership and vehicle ownership achievable with confidence and ease.
The Dual Promise: Understanding “Double Keys, One Dream”
The essence of the “Double Keys, One Dream” program lies in its integrated approach to two major retail loan segments: Housing Loans and Vehicle Loans. This synergy is intended to simplify the application and approval process for customers who have both needs simultaneously. Everest Bank aims to reduce the typical complexities and separate administrative burdens associated with applying for two distinct high-value loans. This comprehensive solution underscores the bank’s commitment to making major life goals accessible through flexible, tailored financial products. The name itself reflects the dual keys—one for the house, one for the car—that together fulfill the single dream of a secure and modern life.
Securing Your Sanctuary: Everest Bank Housing Loan Insights
Everest Bank’s Housing Loan, which forms one half of the “Double Keys, One Dream” offering, is a cornerstone product designed to cater to various housing needs. The primary purpose of this loan is broad and accommodating, covering Construction & Purchase of a house/flat, as well as financing for essential Repairs, renovation, additions, or alteration to an existing residence. It also extends support for the Purchase of land for the eventual construction of a house or building for residential purposes.
Key Features of the Housing Loan
Flexible Repayment Tenure: The maximum repayment period for the Home Loan is remarkably long, extending up to 35 years or until the age of 65 years (whichever is earlier). This extended tenure is a significant benefit, as it helps to lower the Equal Monthly Installment (EMI) burden, making homeownership financially manageable for a wider range of customers.
Loan Limit: The loan is provided on a Need Based Finance criterion, ensuring that the sanctioned amount adequately meets the borrower’s requirements for the property transaction. The margin requirements vary based on the purpose:
- Minimum 25% of the bank value for construction/purchase of house/flat.
- Minimum 40% of the bank value in case of land purchase.
Eligibility Criteria Focus: A critical eligibility factor is ensuring that the EMI obligation does not exceed 70% of the disposable monthly income of the borrower, including the income of the spouse or other family members. This prudent measure ensures the financial health and sustainable repayment capability of the applicant.
Security: The loan is secured by a mortgage of the property itself, which must have a minimum of 8 feet motorable access.
Driving Your Ambition: Everest Bank Vehicle Loan Details
The other crucial component of the “Double Keys, One Dream” package is the Vehicle Loan, designed for the purchase of non-commercial personal vehicles. This loan is perfect for individuals looking to buy a car, van, jeep, Multi Utility Vehicle (MUV), or Sports Utility Vehicle (SUV) for personal use.
Key Features of the Vehicle Loan
- Purpose: Exclusively for purchasing private (non-commercial) vehicles for individuals and business concerns.
- Maximum Repayment Period: The loan offers a comfortable repayment period of up to 7 years (84 months). This competitive tenure allows borrowers to manage their loan obligation over a reasonable timeframe.
- Margin Requirements: The minimum margin varies depending on the vehicle type:
- For Natural Persons purchasing vehicles for personal purpose, the margin is not less than 50% of the purchase price of the vehicle.
- For Electric Vehicles (EVs) for personal use, the margin is significantly lower, not less than 20%, aligning with Nepal Rastra Bank (NRB) stipulations to promote green transport.
- Loan Limit: For individuals, the limit is set at 30 times of the Net Monthly income or the required loan amount, whichever is lower, ensuring the loan size is proportional to the borrower’s capacity.
- Key Eligibility: The gross monthly income of the borrower, along with that of the spouse or other family members, must be at least double the monthly installment (EMI) of the proposed loan, which ensures a strong capacity for timely repayment.
Competitive and Transparent Interest Rates
Everest Bank maintains a policy of offering competitive interest rates on all its loan products, including the Housing and Vehicle Loans. While specific rates are subject to change based on the prevailing market conditions and the bank’s latest rate sheet, all retail loans are generally offered under a floating interest rate mechanism.
Floating Interest Rate: The floating rate is calculated as the bank’s Base Rate (BR) plus a premium/spread. For individual term loans like Housing Loan and Vehicle Loan, the floating interest band is typically in the range of BR + 1.00% to BR + 3.00%, as per the general categories on the bank’s interest rate sheets.
Fixed Interest Rate Options: The bank may also offer a fixed interest rate option for a certain period, which can provide predictability in monthly payments. For instance, in some periods, the fixed rates for Housing and Vehicle Loans might have been around 7.49% for up to 7 years.
Base Rate Fluctuations: It is essential for applicants to note the bank’s Base Rate (BR), as the actual interest rate will fluctuate based on changes to this rate, which is updated monthly and publicly disclosed.
Conclusion: One Step Closer to Your Dreams
The “Double Keys, One Dream” loan program from Everest Bank is a strategic and customer-centric offering that addresses the interconnected needs of modern urban life. By combining a flexible, long-term Housing Loan with a competitive Vehicle Loan, the bank is providing a single, comprehensive pathway for customers to simultaneously secure their residence and their means of transport. The emphasis on high income-to-EMI ratios and clear margin requirements, especially the attractive terms for electric vehicles, demonstrates the bank’s commitment to responsible lending and encouraging sustainable consumer choices. If you are ready to move into your new home and drive a new car, Everest Bank is offering a tailored financial solution to turn that unified dream into a reality.
For More: EBL’s Housing and Vehicle Loan