Himalayan Bank Limited, which has been providing the latest banking services, has introduced new loan schemes targeting different categories of customers. In the month of November of the current financial year, the base rate of the bank is 10.61 percent. The bank has announced 12 types of new loan schemes for the deposits collected from various deposit accounts.
Keeping in mind the general consumer, the bank has come up with a plan to provide loans for the purchase of household goods. Home loan, consumer loan, agricultural, educational, share, personal mortgage loan, first class bank guarantee loan, term receipt loan, government bond and bank bond loan, subsidized full loan, small personal business loan And facilities are loans.
Home loan Products
Himalayan Bank has introduced a home loan scheme by adding 5 percent premium to the base rate. The bank is going to provide loans of 5 lakh to 15 million rupees to the customers to buy and construct real estate with confidence. The bank plans to provide a maximum loan of Rs 75 lakh for the purchase of land only. The loan taken from the bank has to be repaid within 3 to 25 years on the basis of equal monthly installments with interest.
The bank will provide loans up to 80 percent of the house purchase price and up to 75 percent of the price for the purchase of flats and up to 60 percent for the purchase of land. According to the bank, the loan will be provided up to 100 percent of the estimated cost of building a house and up to 100 percent of the estimated cost of addition/expansion/renovation/modification of the house construction loan.
Agricultural loan Product
The bank is going to give a loan of 10 lakh rupees by adding 5 percent premium to the base rate. The bank has introduced the scheme to provide loans to eligible farmers involved in agricultural farming activities. Production, processing or storage of vegetables, seeds, plants and fruits, animal related businesses, production, processing or storage of fruits, mushrooms, herbs, sugarcane, ginger and cardamom, production, processing or distribution of milk and fishery businesses. yes
Farmers have to repay the loan taken from the bank within 3 months to 5 years. According to the bank, the bank has announced plans for overdraft/overdraft and short-term demand loans for processing livestock, poultry and meat products, other agriculture-related areas determined by the government, organic farming of cash crops such as fresh vegetables/fruits.
Share Loan Product (Margin Loan)
The bank will give loans of Rs 3 lakh to Rs 50 lakh to those who are willing to invest in the stock market. The bank has introduced a plan to provide loans at an interest rate of 65 percent of the share price with the aim of strengthening the financial capacity of common people. This bank also provides loans against the security of shares of listed public companies. The bank provides share security loans within certain criteria on the security of shares of various associations listed in the Nepal Stock Exchange.
The loan taken from the bank to invest in shares has to be repaid monthly, quarterly or at the end of the entire principal and interest at one time. Similarly, there is a provision of loan period (renewable) within 1 year.
Educational loans
The bank has come up with a plan to provide 5 percent educational loans at the base rate to meet the financial needs for higher education studies abroad. According to the bank, it is arranged to provide loans of 5 lakh to 5 million rupees to Nepali citizens who have regular and stable income. In this new product, for the convenience of students, 35 percent of the interest invested in the case of periodic loans and the remaining 65 percent of the interest must be repaid within 10 years on the basis of equal monthly installments.
For higher education studies, the bank can take a loan of 10 lakh rupees under overdraft facility. In case of overdraft loan, interest has to be paid quarterly. The bank has been providing students with concessional rates and customer-friendly educational loans if they have to go abroad for higher education studies.
Concessional full loan
The bank has arranged to provide subsidized full loans along with arranging other loans. Loan can be taken from 1 lakh to 50 lakh rupees. The loan taken from the bank will last for 7 years on the basis of annual renewal. The loan has to be repaid on the basis of equal monthly or quarterly installments, and in the case of adhikaris loan, there is a provision to pay the interest on a quarterly basis.
Subidha loan Products
The bank has introduced this facility loan to meet the financial needs of social and religious functions like marriage, pasni, bratavandh, etc., purchase of home furnishings, family health check-ups and medical visits. Targeting middle and upper middle class people with regular, adequate and stable income, the bank provides such loans by adding 5 percent premium to the base rate. People who want to meet their financial needs can take a loan from 2 lakh to 40 lakh rupees.
Full repayment is to be made within 1 to 10 years based on equal monthly installments. Similarly, in the facility loan (overdraft facility), there is a provision that one can take a loan from 2 to 15 lakh rupees
Loans secured by government bonds and bank bonds
Himalayan Bank will provide loans at 1 percent on the security of government bonds and bank bonds. Bankal has promised to provide loans against various bonds, promissory notes, stock securities issued by the government or Nepal Rastra Bank. Such loans are up to a maximum of 90 percent of the value of bonds, promissory notes, stocks. In addition, the bank also provides loans against bonds issued by other commercial banks.
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