21 July 2024, Kathmandu
NMB Bank is making homeownership dreams attainable with their incredibly competitive mortgage rates. Their new NMB Home Loan program boasts attractive floating interest rates starting as low as 8.92%.
NMB Bank Offers Home Loans
This budget-friendly option is designed to broaden access to residential financing for people and families throughout Nepal.
NMB Bank announces competitive Home Loan Rate starting at just 8.92%
NMB Bank has offered an attractive floating interest rate starting from just 8.92% on NMB Home Loan.
This competitive rate is designed to make homeownership more accessible for individuals and families across the country.
With NMB Home Loan, customers can enjoy the flexibility of a floating rate, allowing them to benefit from potential market fluctuations while securing their dream home.
The Bank understands that buying a home is a significant milestone for individuals and is dedicated to supporting the individuals in their journey.
‘The Banker Magazine’ of The Financial Times, London, has awarded NMB Bank with the prestigious Bank of the Year Asia 2021.
The bank has also been awarded Bank of the Year in 2017, 2018, 2020, and 2021. NMB Bank is currently providing its services through 201 branches, 187 ATMs, and 11 extension counters.
NMB Bank Offers Home Loans
NMB Bank offers a variety of home loan options to cater to different needs. The NMB Fixed Rate Home Loan is ideal for those looking to purchase residential land and buildings, including the construction of new buildings. This loan offers up to NPR 1.5 crore with a tenure of up to 15 years. The loan-to-value ratio varies depending on the location, with up to 50% of the fair market value (FMV) inside Kathmandu Valley, and up to 60% outside. For first-time homebuyers inside the valley, the ratio can be as high as 70%.
Eligibility criteria for the loan include age (25-65 years), being a Nepali citizen, and having a professional status as a salaried individual, self-employed professional, remittance income holder, or businessman. Required documentation includes identification, income-related documents, and collateral-related documents such as land ownership certificates and blueprints .