Himalayan News Service

Kathmandu, March 14:

Nepal Bank Ltd (NBL) has introduced NBL Auto Loan and NBL Home Loan. Target customers for the loan schemes are the salaried, self-employed and companies who have stable source of income. NBL Home Loan is available for purchase of land and building, construction of house, and renovation and extension of existing houses. The maximum tenure for NBL Auto Loan and NBL Home Loan are seven years and 20 years respectively. The interest rate of 6.5 per cent on auto loan and 7.5 per cent on home loan are the lowest of their kinds in the country, adds the release. NBL has also introduced NBL Margin Lending.

Under this lending programme, loan is provided against ordinary shares of some selected companies listed in the Nepal Stock Exchange. Any individual and company is eligible for the NBL Margin Loan and the interest rate for the marginal loan is set at 6.5 per cent per annum. The loan is revolving in nature and borrowers are required to pay interest quarterly, states the release. NBL auto loan and home loans are available from 16 branches of the bank, while NBL Margin Lending is available from 20 branches throughout Nepal.