Kathmandu. Recently, the attraction of customers towards home loans has increased after loans were available at single-digit interest rates. Bankers say that the number of customers building houses with home loans is increasing as banks keep interest rates at single digits. Recently, as the government has also emphasized the expansion of credit to the construction sector, banks have been maintaining cheap interest rates for it.
As investible amount (liquidity) increases, banks have started increasing investment in home loans. Banks have also started making various offers for home loans public to customers, including plans to charge interest at single digits.
As experts are emphasizing the expansion of credit in the stock market and construction sector to overcome the slowdown in the economy, banks are also attracted towards it. As banks have started providing stable and single-digit loans, customers have also been attracted towards it. Due to this, the growth of home loans by banks is also increasing.
What is the interest rate of which bank?
Recently, as the government has emphasized the expansion of credit to the construction sector, banks have been maintaining cheap interest rates for it. Bankers say that the number of customers taking home loans to build houses is increasing as banks maintain interest rates in single digits. Especially now, banks are in a comfortable position to provide loans.
As the investable amount (liquidity) in the banking system increases, banks have started increasing their investment in home loans. Banks have also started making various offers for home loans public to customers, including plans to charge single-digit interest rates.
As experts continue to emphasize the expansion of credit in the stock market and construction sectors to overcome the slowdown in the economy, banks are also attracted towards it. As banks have started providing loans at fixed and single-digit rates, customers have also been attracted towards it. Due to this, the growth of home loans by banks is also increasing.
Most commercial banks are providing home loans at fixed interest rates that do not change throughout the loan period. Commercial banks are providing home loans at fixed interest rates ranging from a minimum of 5.96 percent to a maximum of 10.50 percent for a long period. Most banks are providing fixed interest rates on home loans for a period of seven years. Some banks have also introduced various concessional offers at the specified interest rate.
According to the latest interest rate details of banks, Nepal Bank is providing home loans at the lowest interest rate. This bank is providing home loans from a minimum of 5.96 percent to a maximum of 8.38 percent. This is the lowest interest rate. This bank has set the interest rate by adding a 2.42 percent premium to the base rate.
Similarly, while the Agricultural Development Bank is providing home loans at a minimum of 6.52 and a maximum of 8.52 percent, Global IME Bank is providing home loans at an interest rate of a minimum of 6.56 percent to 10.06 percent.
While Everest Bank’s minimum interest rate for home loans is 6.63 to a maximum interest rate of 8.63 percent, Rastriya Banijya Bank’s is 7.82 to 10.25 percent, Nepal SBI Bank’s is 7.35 to 9.35 percent, Himalayan’s is 7.38 to 9.38 percent, NIC Asia Bank’s is 7.41 to 10.41, Nepal Investment Mega’s is 7.75 to 9.75 and Citizens Bank’s interest rate remains at 7.99 to 8.99 percent.
There are only five banks with a minimum interest rate above 8 percent for home loans. Of these, Sanima has a minimum interest rate of 8.1 to 10.1 percent, Lakshmi Sunrise has a minimum interest rate of 8.49 to 11.99, Siddhartha has a minimum interest rate of 8.49 to 8.75, Kumari has a minimum interest rate of 8.59 to 10.99 percent, and Prabhu Bank has a fixed interest rate of 8.93 to 10.93 percent.
Similarly, Nabil Bank is providing home loans at a fixed rate of 9.49 percent, NMB has a fixed rate of 9.99 percent, and Standard Chartered Bank has a fixed rate of 10.5 percent. Prime Bank, on the other hand, has a minimum interest rate of 10 percent and a maximum interest rate of 12 percent for home loans.
