Pan Asia Bank offers Nivasa housing loans

Pan Asia Bank, in response to increased demand for housing loans, relaunched the Nivasa housing loan scheme with a host of value added features.

Nivasa housing loans which hadbeen one of the bank's most popular loan products includes an attractive low interest rate of 12%.

The borrower could also obtain loans to be repaid in five years on a fixed interest rate.

As a large number of people are eager to own a house rather than rent out one as in the past, the Bank's Nivasa housing loan scheme has been designed to enable them to own a house of their own providing them the freedom and independence that come with living under one's own roof.

The bank is also exploring the possibility of tying-up with several leading companies relating to the housing industry to obtain discounts for Nivasa customers.

Pan Asia Bank, with the renewed focus on the Nivasa housing koans targets mainly monthly wage earners in Sri Lanka and certain categories of Sri Lankan migrant workers who can avail of this facility by opening an NRFC account with the bank.

The bank also targets customers who are interested in purchasing a second home for investment purposes.

Customers can obtain loan facilities up to Rs.25 million with a repayment period of up to 25 years under the Nivasa housing loan scheme . The Nivasa housing loan scheme also allows customers to borrow up to 100% of the BOQ value when the customer owns the land and in other cases up to 75% of the BOQ value.

Pan Asia Bank also has an array of other loan products such as consumer loans, auto loans, leasing, hire purchase and credit cards for the Sri Lankan workforce with value added benefits and hopes to introduce new products to these segments.