Citizens home loan

KATHMANDU, SEP 20: 

Citizens Bank International has revised the interest rate of its ‘Citizens Home Loan’ downwards to 10.5 per cent. It will provide the home loan for a period of 25 years, it said, adding that the interest rate fixed by the bank will be unchanged for the first three years. The bank has also started a product ‘Citizens Fast Track Loan’ that will provide loans from Rs 50,000 to Rs 0.5 million within three days from the date of submission of the loan application, it said. It has been providing auto loans, home loans and business loans. It is providing modern banking services through a total network of 15 branches inside Kathmandu valley and 18 outside the valley. The bank collected deposits worth Rs 17.35 billion and floated loans worth Rs 14.15 billion in the last fiscal year, it said, adding that it posted an operating profit of Rs 380.83 million and net profit of Rs 220.29 million in the period.