NMB Bank launches ‘Ballooning & Reverse Ballooning Home Loan facility
25 Nov, 2019
NMB Bank announces the launch of ‘NMB Ballooning and Reverse Ballooning’ schemes under its home loan facility. Customers vying for Home Loan facility at NMB Bank can now choose their repayment methods as per their requirements under the newly launched schemes.
The Ballooning option allows repayment of principal on Home Loans with a flexible approach that allows for EMI payment on part of the loan while the other part of the loan can be settled in bulk on yearly basis. Alternatively the Reverse Ballooning loan option allows repayment of principal on Home Loans by a unique modality which allows for EMI to diminish over every 5 to 10 years as chosen and required by the customer.
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