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Last Updated: Fri, 05.10.12 11:53

Mega Bank introduces new scheme loan for people affected during road expansion

Mega Bank Nepal Limited has launched a new product which is aimed at people affected from the road expansion drive of the government in the Valley.

The main motive of the new product is to provide those affected by the road expansion drive house reconstruction loan and Mega SME business rebuilding loan.

In a press meet here in the capital on Thursday, CEO of Mega Bank, Anil Keshary Shah announced the “Khancho ko Sancho”, a deposit cum loan package focused on providing housing reconstruction loan and Mega SME business rebuilding loan with attractive interest rate of 10 percent per annum.

This special package is designed to facilitate the house owners inside Kathmandu Valley who are affected during the road expansion plan of government, said Shah adding, “we expect to give a helping hand to the affected households”.

As per the CEO, turnaround time for this specially designed loan will be three days of receipt of the required document.

As stated by bank, the loan tenure for the housing reconstruction loan under the term loan facility will be for 20 years without any loan processing fee. Moreover, the bank also offers the facility of moratorium period of 1.5 years under term loan facility for housing reconstruction.

Also, under this scheme, bank is also offering personal overdraft facility with attractive features.

In addition, along with the loan scheme, bank will be providing various attractive individual savings deposit schemes as well as a Rupee Call account scheme with an interest rate of 4 percent per annum with no minimum balance requirements for the prospective institutional depository customers.

Similarly, Mega SME business rebuilding loan will be provided at an attractive interest rate of 10 percent per annum with a tenure ranging from 1-10 years. For this scheme also, there will be no loan processing fees charged and this product also comes with other attractive loan features. nepalnews.com