Bank of Azad Jammu and Kashmir Enhances Loan Scheme to Boost Tourism in Muzaffarabad

Muzaffarabad, In a significant move to promote tourism in Azad Jammu and Kashmir, the Bank of Azad Jammu and Kashmir has updated its “Tourism Promotion Finance” loan scheme, making it more accessible for consumers. The enhanced scheme now offers loans up to 50 lakh rupees with minimal mark-up and easy terms, specifically aimed at developing tourism facilities such as guest houses and renovating residential properties for tourist use.

According to Bank of Azad Jammu and Kashmir, the revised loan scheme is designed to facilitate the construction of new guest houses and the conversion of existing residential houses into tourist accommodations. The loans have a tenure of five years and feature minimal monthly installments and expedited processing to encourage widespread participation, especially from low-income individuals passionate about enhancing the state’s tourism sector.

This initiative allows consumers to expand their businesses by renovating hotels, building new guest houses, and converting residential properties into guest accommodations. The bank also offers a variety of other financial products including advance salary loans, gold loans, and financing for housing, personal use, vehicles, motorcycles, home appliances, small and medium enterprises, micro and commercial enterprises, as well as healthcare services. The bank’s commitment to making these schemes easily accessible is part of a broader strategy to accelerate the social and economic development of the region. Owing to the trust and cooperation of its customers, Kashmir Bank is surpassing its business targets, playing a pivotal role in the socio-economic uplift of the state.

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