Mahalaxmi Bikas Bank launches Green Home Loan at 8.99%

KATHMANDU:Mahalaxmi Bikas Bank will provide a green home loan with a single-digit interest rate to its consumers. The bank will provide the loan at 8.99 percent.

The bank will make loans that are sustainable and environmentally beneficial in accordance with its policies. Such loans will be made available for the construction of dwellings using water energy, wastewater treatment, wind energy, solar energy, biological energy, and other agricultural and forestry-based energy sources.

It is said that the bank will make loans for a minimum of two years and a maximum of thirty years. These loans will be used to purchase houses, build houses, buy apartments, add/renovate/repair dwellings with environmental qualities, and employ renewable or sustainable resources.

The bank believes that this type of action will help to safeguard the environment, promote sustainable development, and ensure compliance with Nepal Rastra Bank's regulatory criteria.

The bank has served around eight lakh consumers through 103 branch offices across the country.