NRB announces 0% loan refinancing for earthquake-hit residences

People whose homes got destroyed in the massive earthquake that hit the country on April 25 can breathe a sigh of relief.

Keeping in view the damages caused to the residential homes by the mega-earthquake on April 25, Nepal Rastra Bank has come up with a scheme to provide refinancing on home loans of up to Rs 25 lakh within the valley and up to 15 lakh outside the valley at 0% interest rate.

The NRB has said the refinancing would help people rebuild their homes damaged by the earthquake.

The NRB has also instructed banks and financial institutions to charge only a maximum of 2 percent interest on such loans.

Source: Share Sansar

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