Global IME Bank and Bhumi Developers sign agreement for green housing loan

KATHMANDU: Global IME Bank Limited has signed a memorandum of understanding (MoU) with Bhumi Developers Pvt. Ltd. and Pacific Developers Pvt. Ltd. to facilitate the provision of green housing loans.

According to this agreement, the bank will provide easy loan disbursement to buyers of environmentally friendly residential houses constructed by Bhumi Developers and Pacific Developers located in Kitini, Ward No. 3, Godavari Municipality, Lalitpur District.

The bank will offer simple and easy loan disbursement within three working days to customers who wish to purchase eco-friendly residential houses sold by Bhumi and Pacific Developers Pvt. Ltd. Additionally, Global IME Bank will also act as the banking partner for projects undertaken by Bhumi and Pacific Developers Pvt. Ltd.

On behalf of the bank, Narahari Silwal, Head of the Small, Medium, Retail, and Agricultural Loan Department, and on behalf of the developers, Director Venkatesh Mundara, signed the MoU. The bank will provide green residential house loans of up to NPR 120 million for a period of up to seven years at a fixed interest rate of 8.99 percent. After this period, a premium rate of 1.75 percent will apply for the remaining loan term, which can be up to a maximum of 30 years.

These loans can be used to construct eco-friendly houses/buildings and apartments, purchase environmentally friendly individual houses or residential apartments, and upgrade existing buildings to eco-friendly standards or maintain eco-friendly buildings.

Global IME Bank is the first commercial bank in the private sector with a branch network in all 77 districts of the country. The bank provides services through more than 1,100 service centers, including 354 branch offices, 384 ATMs, 277 branchless banking services, 68 extension and revenue collection counters, and 3 overseas representative offices.

Global IME Bank is committed to being a bank for all, providing excellent services to more than 4.6 million customers through various plans and facilities.

Additionally, the bank contributes significantly to the country’s economy by bringing in remittances from countries including the United States, the United Kingdom, Canada, Australia, Malaysia, South Korea, Japan, Saudi Arabia, Qatar, UAE, Bahrain, Kuwait, India, Jordan, and Hong Kong.