Target Segment

1.  Individual Nepali Citizen.

2.  Age between 18 years to 75 years (maximum age limited to tenure of Loan).

3.  Individuals with regular source of Income such as from: Employment, Self-Employment, Business, Remittance, Rental, Pension etc.                    

Purpose

To cater 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. 

Loan Limit

1.        Up to 5 million.       

Loan Tenure for personal term Loan:

1.        Maximum up to 240 months. 

Loan Tenure for personal OD Loan:

1.        One year renewable (if found satisfactory).

Financing Criteria

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

Repayment Mode

1.        On EMI basis for personal term loan.

2.        Interest on monthly or quarterly basis and principal amount to be served on year end or can be renewed on expiry if it is found to be satisfactory. 

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.  

Security

1.        Registered Mortgage on Freehold Property (Land and/or Building) owned by the applicant or close family member of the borrower such as spouse, father, mother, and brother and valued by valuator of Bank. 

Insurance

1.        Property being mortgaged (Building/Flat/Apartment) 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.        Application form from applicant.

2.        Copy of citizenship certificate of applicant and personal guarantor.

3.        Documents related to income such salary sheet, rental agreements papers, pension book, etc., wherever applicable.

4.        Certificate of undivided family members from competent authority.

5.        Net worth Statement of applicant and personal guarantor.

6.        Property related documents such as land/buildings/apartments ownership certificates, property deed, boundary of property, land revenue receipt, blue print of the land, approved structure of building, construction completed certificate etc.

7.        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, etc.

8.        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. 

All the documents and copies of the documents should be signed by the applicant/ co-applicants to authenticate the documents.