Pan Asia Bank ‘Nivasa’housing loan scheme – A fast and convenient solution

Pan Asia Bank, in response to the increased customer demand for housing loans, has commenced promoting its “Nivasa” housing loan scheme with a host of value added features.

“Nivasa” housing loans scheme which has always been one of the bank’s most popular loan products, has now been improved further with several benefits to the borrower including a very attractive low interest rate of 12%. Apart from that the borrower also has the ability to obtain loans up to 5 years on a fixed interest rate.

Since most of the Sri Lankans are now eager to own a house rather than renting one as in the past, Pan Asia 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. Adding more value to its borrowers the bank is also looking to tie-up with several leading companies relating to housing industry to obtain discounts for “Niavasa” customers.

Pan Asia Bank, with the renewed focus on the “Nivasa” Housing Loans expects to target mainly monthly wage earners living in Sri Lanka and certain categories of Sri Lankan migrant workers who can avail this facility by opening an NRFC account with the bank. Other than these two categories the bank also targets customers who are interested in investing in a second home for investment purposes.

Under “Nivasa” housing loan scheme, customers can obtain loan facilities up to Rs.25 million with a repayment period of up to 25 years. “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 work force with true value added benefits and plans to continue to introduce new products to these segments.