![[X]](https://www.housingnepal.com/images/popup-close-button.png)
National News
Posted On: 2023-05-09
Issuing a circular on Monday, Nepal Rastra Bank (NRB) made a provision under which the banks are required to make monthly changes in loan interest rates.
“Loan interest rates shall be changed monthly as per the variation limit in average base rates of the last three months”, mentions the circular.
Currently, the banks change the loan interest rates as per the fluctuation in the base rate maintained quarterly. However, the banks are now required to revise the loan interest rates on the basis of the base rate of the last three months.
Nevertheless, the provision will not obstruct to cut loan interest rates above the changes in average base rate of the last three months, not to raise interest rates in any condition and to maintain stable interest rates in agreement with the borrower.
The banks are required to clearly inform the borrower about the possibility of changes in interest rates through an offer letter.
source: 9 may 2023, merolagani
Facebook
Delicious
Digg
Reddit
Stumble Upon
- 9th Nepal Buildcon International Expo 2024
- Real Estate Expo 2023
- NRB raises housing loan limit to encourage home constructions
- Nepal Rastra Bank (NRB) Monetary Policy 2080-2081
- New Price of Land in Kathmandu Metropolitan City, Nepal
- Capital Gains Tax Rate on Real Estate Transactions in Nepal 2080-81 ( 2023/24 )
- Kathmandu metropolis implements free parking policy for commercial buildings and hospitals
