Target Segment
- Individual Nepali Citizen.
- Age between 18 years to 75 years (maximum
age limited to tenure of Loan) in case of Individual.
- Individuals with regular source of Income
such as from: Employment, Self-Employment, Remittance, Rental, Pension
etc.
Purpose
Any of the
following legal purpose with various personal needs and end use of fund must be
verifiable through necessary documentary proof.
- Settlement of personal borrowing.
- Obligatory expenses.
- Constructions of sheds, buildings, and
other structures for personal use or rental purposes.
- Renovations of existing facilities,
buildings, sheds, factory sites etc.
- Expansion of existing facilities for
rental or personal consumption purposes.
- Meeting traveling expenses.
- Social obligations such as marriage
expenses etc.
- Business enhancement related investments.
- New business acquisition etc.
- Purchase of land for residential
purposes.
Loan Tenure
- Minimum 12 months up to 240 months.
- In case mortgage loan is for the purpose
of purchasing business, tenure of such loan shall be maximum 1 year.
Loan Limit
- Maximum NPR 5 million.
Financing Criteria
- Up to 50% of FMV of property.
Repayment Mode
- Repayment shall be on EMI/EQI basis.
- Interest will be paid on quarterly basis
and principal shall be settled within a year in case of loan provided to purchase
of business.
Interest Rate
- It shall be the published rate by Bank
from time to time. click
here
Charges
- It shall be the charges published by Bank
from time to time.
Security
- Registered mortgage on Freehold Property
(Land and/or Building) by borrower or close family member of the borrower
such as spouse, father, mother, and brother, valued by valuator of Bank.
Insurance
- Property being mortgaged
(building/flat/apartment)must be insured.
Documents required but not limited to
- Passport size photographs of
Applicant/Co-Applicant/Guarantor/s
- Photocopy of Citizenship
Certificate/Passport of Applicant, Co-applicant & Guarantor
- Certificate of undivided family members
from competent authority.
- Photocopy of "Land/Apartment
Ownership Certificate" (Lalpurja)
- Photocopy of "Land/Transfer
Deed" (Rajinama) and/or other legal documents validating Lalpurja
- Photocopy of "Land Revenue
Receipt" (Malpot Receipt) for the latest Fiscal Year
- Tax Clearance of building with payment
voucher/receipt.
- Original " Blue Print of the
Land" (Napi Naksa)
- Four Boundary Disclosure (Char Killa
Pramanit)
- Photocopy of Approved House Map from
Municipality (Naksa Pass, if building is available and valued)
- Business registration certificate, PAN
Registration Certificate, License from concerned office (if applicable),
paper disclosing percentage of ownership/shareholding
- Memorandum and Articles of Association,
partnership deed etc. (only if applicable)
- Audited Balance Sheet and Profit &
Loss Account/Income & Expenditure Account covering latest 1 fiscal
year (only if applicable)
- A letter from employer disclosing gross
salary/net take home pay and pension statement for pensioner (wherever
applicable)
- Rental contract with identification
document of tenant and ownership certificate of the rented land and/or
building or apartment