29th January 2025, Kathmandu
Nepal Bank Limited, the first bank of Nepal, has launched a new housing loan product called “Saral Awas Karja” to make homeownership more attainable.
Nepal Bank Housing Loan Scheme
The loan features a competitive interest rate of 6.63%, offering support for individuals and families looking to purchase, build, or renovate their homes.
Key Loan Features
Loan Amount: Borrowers can access loans of up to NPR 20 million.
Loan Purpose: The loan can be used for buying homes, constructing new houses, or renovating existing properties.
Loan Coverage: The bank offers full coverage of the total project cost, reducing the financial burden on borrowers.
Repayment Period: The loan provides a long repayment period of up to 25 years, helping to keep monthly payments affordable.
Service Charge Discount: Borrowers will receive a 33.33% discount on service charges, further lowering the overall cost.
Helping Nepali Families Achieve Homeownership
“Saral Awas Karja” is designed to make homeownership more accessible for Nepali families. The loan offers an attractive 6.63% interest rate, allowing more people to take advantage of this opportunity. With a repayment period of up to 25 years, borrowers can manage their finances more easily while achieving their goal of owning a home.
Increased Financial Accessibility
This new loan product is an important step toward making homeownership more affordable for a larger segment of the population. With up to NPR 20 million in loan coverage, borrowers can tackle various housing projects, whether it’s purchasing a home or renovating one. The low interest rate and long repayment period make this loan a competitive option in the market.
Boosting the Housing Sector
By introducing “Saral Awas Karja,” Nepal Bank aims to meet the increasing demand for affordable housing in Nepal. This loan scheme could significantly impact the housing sector by enabling more families to own homes.
Nepal Bank’s new housing loan offers favorable terms that make homeownership more achievable for many Nepali citizens, supporting the dream of owning a home for a wider audience.
For more: Nepal Bank Housing Loan Scheme
