Himalayan Bank launches new attractive Vehicle and Home loan schemes

ShareSansar August 23:

Himalayan Bank Limited (HBL) has come up with two new loan schemes called ‘HBL Auto Loan (Private Vehicle)’ and ‘HBL Home Loan’.

HBL Auto Loan is basically a loan scheme to purchase a vehicle which offers an interest rate of 7.99% p.a. The maximum loan tenure is for 8 Years and the loan repayment will be on Equal Monthly Installment (EMI) basis.

With this scheme the bank has provided following criteria:

• The basic eligibility criteria are that applicant must have reliable and steady source of income to serve the loan installment.

• The target customers are any Nepalese Individuals of middle and upper middle class income group with regular, adequate, steady and stable source of income.

• The Loan limit may differ on case to case basis; depending on the applicant’s loan repayment capacity, the bank may finance up to 80% of the cost of the vehicle.

Likewise, another loan scheme named ‘HBL Home Loan’ offers an interest rate of 7.99% p.a. The maximum loan tenure will be for 3 to 20 Years and the loan repayment will be on Equal Monthly Installment (EMI) basis.

With this scheme the bank has provided following criteria:

• Basic eligibility criteria are any Nepalese Individuals of at least 25 Years of age having stable, steady and reliable source of income from job, rent, pension, remittance supported by the document.

• Age of the applicant and the loan tenure collectively should not exceed sixty five years.

• Must be able to provide unencumbered fixed assets collateral as primary security. The proposed site should have accessible road of at least 8 feet width.

• The Minimum loan limit is Rs 5 lakhs (0.50 Million) and for purchase of land alone maximum loan limit is Rs 30 lakhs (3.0 Million)

Type of Home Loan Scheme

For further information, you can visit http://www.himalayanbank.com or contact your nearest branch of Himalayan Bank.