NMB launches loan scheme to support small and medium enterprises

ShareSansar, February 27:

NMB Bank has introduced NMB Bank Sulav Karja help fuel the growth of small and medium enterprises. Under the scheme, the people can apply for loans starting from 3 lakhs to 33 lakhs. The bank has said that a decision on loan applications under the scheme will be taken within 3 days.

“The loan scheme is for both registered and un-registered businesses,” an NMB official said. "In the case of unregistered business, personal business loan is provided. Life insurance is free with the personal business loan but the business should at least have operated for a year.”

The loan can be taken out by keeping land or building as collateral. “The volume and type of loans would be determined by the interest rates on loan, as per the bank,” said the NMB official.