Shine Resunga Development Bank

Head Office : Siddhartha Road, Butwal-8,
Rupandehi 071-551500,551498

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Personal Loan

Target Segment:
  • Individual Nepali Citizen.
  • Age between 18 years to 70 years (maximum age limited to tenure of Loan) .
  • Individuals with regular source of Income such as from: Employment, Self Employment, Business, Remittance, Rental, Pension etc.
 
Purpose:
  • To meet various needs of Individual. Such as: Purchase of home utilities, to meet medical expenses or other social events etc.
 
Loan Limit:
  • Less than 5 million.
 
Loan Tenure:
  • Minimum 1 year Maximum 10 years in case of Term Loan.
  • Upto 1 year in case of Revolving Loan.
 
Financing Criteria:
  • Maximum 50% of the distress value of  the mortgaged security.
 
Repayment Mode:
  • Repayment of Principal shall be monthly/quarterly/half yearly/yearly or Repayment shall be on EMI basis in case of Term Loan.
  • Interest Payment shall be monthly/quarterly.
 
Interest Rate:
  • It shall be the published rate by Bank from time to time.
 
Charges:
  • Service charges, Prepayment charges and all other applicable charges shall be as per Bank's STC policy.
 
Security:
  • Legal Mortgage on Freehold Property (Land and Building) valued by listed valuator of Bank.
 
Insurance:
  • Property being mortgaged shall be insured sufficiently to cover the Loan amount.
 
Financing Restriction:
  • Speculation, Gambling and other illegal purpose.
 
Documents Required:
  • Application form with photo from Applicants/ Co -applicants and photo of Personal Guarantor if any.
  • Documents related to income such as Salary sheet, Rental agreements papers, Pension book, Proof of Remit receipt, FS of business or any other acceptable/valid sources of income supported by evidence documents.
  • Net worth Statement of Applicants/Co-applicants and Personal Guarantor.
  • Property related documents such as Land/Buildings/Apartments Ownership Certificates, Property Deed if any, Blue Print, Trace Map, File Naxa if any, Four Boundary Certificate of Property, Land Revenue Tax Payment (Tiro Rasid).
  • Copy of Citizenship Certificate of Applicants/Co-Applicants and Personal Guarantor if any.
  • Six month’s statements of the saving account maintained by the applicant, if any.
  • If the applicant’s business income is used to justify the cash flows, the applicant shall be required to submit copies of all business related documents such as Registration Certificate, Partnership Deed, Article of Association, Memorandum of Association, Tax Clearance Certificate, PAN certificate, latest Audited and /or Provisional Financial Statements.
  • Any other documents to justify the loan that may be decided by the management from time to time or as may be required by regulatory requirement.