Global IME Bank signs agreement with Bhoomi Developers and Pacific Developers

KATHMANDU:Global IME Bank Limited has inked a memorandum of understanding with Bhoomi Developers Pvt Ltd and Pacific Developers Pvt Ltd for the provision of green home loans.

According to the agreement, the bank will give loans to buyers of eco-friendly residential houses constructed by Bhoomi Developers and Pacific Developers in Kitini, Godawari Municipality-3, Lalitpur.

According to the bank, consumers who want to buy environmentally friendly residential houses from Bhoomi Developers and Pacific Developers will be able to get simple loans within three working days. Global IME Bank will also serve as the project's banking partner, alongside Bhoomi Developers and Pacific Developers.

The memorandum of understanding was signed by Narahari Silwal, head of the bank's small, medium, retail, and agricultural lending department, and director Venkatesh Mundara, representing the developers.

The bank would offer green residential home loans of up to Rs 12 crore for a maximum of seven years at a fixed interest rate of 8.99%. Following that, it will be accessible at a 1.75 percent premium rate for a maximum of 30 years of the loan term.

While implementing environmentally beneficial measures, this loan can also be used to upgrade existing buildings and maintain eco-friendly structures.

Global IME Bank offers services through 354 branch locations, 384 ATMs, 277 branchless banking services, 68 extension and revenue collection counters, and three international representative offices.