Target Segment

  1. Individual Nepali Citizen.
  2. Age between 18 years to 70 years (maximum age limited to tenure of Loan) in case of Individual.
  3. 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.

  1. Settlement of personal borrowing.
  2. Obligatory expenses.
  3. Constructions of sheds, buildings, and other structures for personal use or rental purposes.
  4. Renovations of existing facilities, buildings, sheds, factory sites etc.
  5. Expansion of existing facilities for rental or personal consumption purposes.
  6. Meeting traveling expenses.
  7. Social obligations such as marriage expenses etc.
  8. Business enhancement related investments.
  9. New business acquisition etc.
  10. Purchase of land for residential purposes.

 

Loan Tenure

  1. Minimum 12 months and up to 240 months in case of Term Loan.
  2. In case mortgage loan is for the purpose of purchasing business, tenure of such loan shall be maximum 1 year.

 

Loan Limit

  1. Maximum NPR 30 million.

 

Financing Criteria

  1. Up to 50% of FMV of property at any point of time.

 

Repayment Mode

  1. Repayment shall be on EMI basis.
  2. Interest will be paid on quarterly basis and principal shall be settled within a year in case of purchase of business.

 

Interest Rate

  1. It shall be the published rate by Bank from time to time.click here

 

Charges

  1. It shall be the charges published by Bank from time to time.click here

 

Security

  1. Legal 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

  1. Property being mortgaged shall be compulsorily insured covering risk of fire and earthquake. Other relevant risks such as riot, terrorism, flood etc must also be covered as appropriate.

 

Documents required but not limited to

  1. Passport size photographs of Applicant/Co-Applicant/Guarantor/s
  2. Photocopy of Citizenship Certificate/Passport of Applicant, Co-applicant & Guarantor
  3. Photocopy of "Land/Apartment Ownership Certificate" (Lalpurja)
  4. Photocopy of "Land/Transfer Deed" (Rajinama) and/or other legal documents validating Lalpurja
  5. Photocopy of "Land Revenue Receipt" (Malpot Receipt) for the latest Fiscal Year
  6. Tax Clearance of building with payment voucher/receipt.
  7. Original " Blue Print of the Land" (Napi Naksa)
  8. Four Boundary Disclosure (Char Killa Pramanit)
  9. Photocopy of Approved House Map from Municipality (Naksa Pass, if building is available and valued)
  10. Business registration certificate, PAN Registration Certificate, License from concerned office (if applicable), paper disclosing percentage of ownership/shareholding
  11. Memorandum and Articles of Association, partnership deed etc. (only if applicable)
  12. Audited Balance Sheet and Profit & Loss Account/Income & Expenditure Account covering latest 1 fiscal year (only if applicable)
  13. A letter from employer disclosing gross salary/net take home pay and pension statement for pensioner (wherever applicable)
  14. Rental contract with identification document of tenant and ownership certificate of the rented land and/or building or apartment