Fiscal Nepal
First Business News Portal in English from Nepal
KATHMANDU: NIC Asia Bank has launched a new home loan product titled ‘NIC Asia Saathi Ghar Karja,’ offering customers financing of up to Rs100 million at a fixed interest rate of 6.99 percent for seven years.
The bank stated that the scheme has been introduced to address growing demand for affordable housing finance and to support customers in purchasing or constructing residential properties.
Under the newly announced plan, customers can obtain loans ranging from a minimum of Rs2.5 million to a maximum of Rs100 million. The facility covers house and apartment purchases, home construction, reconstruction, and land acquisition. The maximum loan tenure has been set at 25 years.
According to the bank, the scheme offers a fixed interest rate of 6.99 percent for the first seven years, along with additional service benefits aimed at making home ownership more accessible and financially manageable.
In terms of loan-to-value (LTV) ratio, first-time homebuyers will be eligible for financing of up to 80 percent of the property valuation. For other borrowers, the maximum LTV ratio has been capped at 70 percent. The bank said the differentiated structure is designed to encourage new homeowners while maintaining prudent risk management standards.
As part of the package, customers availing the home loan under this scheme will also receive a lifetime free credit card service.
Bank officials said the product has been structured to provide tangible financial support to individuals seeking to fulfill their housing aspirations amid evolving market conditions. The announcement comes at a time when commercial banks are revising lending strategies to stimulate credit growth and expand retail portfolios.
The bank expressed confidence that the new home loan scheme will contribute to increased activity in Nepal’s real estate and housing sector while offering competitive financing options to borrowers.
Your email address will not be published. Required fields are marked *
Comment *
Name *
Email *
Website
Save my name, email, and website in this browser for the next time I comment.
