NIC Asia Bank has started offering home loan at an interest rate of 0.9 percent per month.

Under the scheme named ‘NIC Asia Bank ko Dashain Tihar Upahar, Ghar Karja ma Chhutai Chhut ko Bahar’, the customers can get the home loan through process that is relatively cheaper, easier and faster, said the bank. 

The festive offer from NIC Asia Bank is aimed at facilitating borrowers to buy real estate and build residential houses. Under the scheme, documents would be processed in three working days. 

In addition, the bank has also waived charges for document processing, advance 

payment, collateral assessment, insurance and credit information.

The scheme also allows borrowers to transfer home loans from other banks to NIC Asia. The transferred loan will mature within 25 years and the bank will not change the interest rate for two years.

NIC Asia customers can check loan eligibility online. 

Based on their preference, borrowers can obtain term-loan or overdraft from the bank to buy land or build a house.

For borrowers who wish to receive combined loan for purchasing house and vehicles, NIC Asia is offering a ‘combo product’ loan. 

This loan will mature within 25 years and the bank will waive charges for document processing. 

According to the bank, these schemes will be available for a limited period.

NIC Asia has been providing nine percent interest to the depositors in saving account. It has been offering its service through 125 branches, four extension counters and 119 ATMs.