Attractive Bank Interest Rates at Real Estate Expo: Loans at Up to 5.44%

At the eighth Real Estate Expo underway at Bhrikutimandap in Kathmandu, banks and financial institutions are offering home loans at attractive interest rates. Apartments and houses are on sale at discounted prices, with banks providing loans at interest rates ranging from 5.44% to 10.99%.

The expo showcases villas built on plots ranging from 2.5 to 13 aana. In this eighth edition, houses priced from Rs 20 million to over Rs 100 million are on display. Domestic and foreign exhibitors are showcasing their services and products.

The expo features houses and apartments, land planning and development, construction material producers and sellers, engineering and architecture consultants, as well as banks and insurance companies.

Attractive Bank Loan Schemes:

• Citizens Bank has introduced the Citizens Home Loan at a fixed interest rate of 10.99% for 7 years. Under this loan, the bank states it will provide concessional interest rates and loan facilities up to Rs 5 million.
• NMB Bank has introduced a concessional home loan at a fixed interest rate of 10.49%.
• Companies have arranged offers ranging from exchanging land for a house to cash discounts of up to Rs 5 million for those booking real estate during the expo period.

Nepal Real Estate Management Ltd has brought an offer to exchange land located anywhere in Nepal for a house. The company states that it will determine the value of the land and allow exchange of a house for land or land for land.

When purchasing real estate, a 25% down payment is required, with a one-year period provided to pay the remaining amount. The company states that if monthly installments are paid within one year, no interest will be charged. This company has brought an exchange offer for real estate located in Bhaisepati or Changunarayan.

Similarly, the company has announced an agreement with Prime Bank and Nabil Bank to provide housing loans at a fixed interest rate of up to 11% for real estate purchases. Real Estate Management is building 74 houses in Changunarayan and has 54 plots of land on 20 ropani in Bhaisepati.

The land structure has been designed to provide blocks ranging from 4.5 aana to one ropani. The price in Bhaisepati is set at Rs 4.7 million per aana, with a 15% discount. The company states that those who visit the site and book will receive a cash discount of up to Rs 5 million.

Padma Colony is offering up to a 7% discount for those booking houses at the expo. Similarly, those booking apartments will receive a discount equivalent to Rs 300,000 on the security deposit. 134 apartments are being built in Padma's Thulo Bharyang, while 924 are under construction in Dadapauwa. Apartments priced from Rs 6 million are on sale. Those booking at the expo can pay a booking charge of Rs 500,000.

Bhumi Colony is offering up to a 10% discount for those booking at the expo. Bhumi is building 72 colonies in Godavari. The colonies built on land ranging from 5 aana to 12 aana are priced from Rs 39 million to Rs 75 million.

Bhumi has arranged for buyers of its colony to pay installments over 7 to 10 years at an interest rate of 10.59% with Nabil Bank. If booked today and approved within 2 months, there is up to a 5% discount.

Those booking the Hepali Height colony being built by Developers will receive a Rs 3 million discount. 9 houses remain in this project. Similarly, booking Aabhas Colony will get a Rs 2.5 million discount, the company states. Aabhas is an ongoing project. The company states that those who book now will have the colony handed over within 18 months.

CE Construction is building colonies and apartments in Wafal Tahajal, Biratnagar, and Pokhara Bhotebahal. For bookings at the expo, arrangements have been made to pay installments every three months within three years. Apartments range from Rs 22.9 million to Rs 40 million.