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Home
Loan
Are you looking to own a residential property? Do you
need money for extension of your house? Or do you feel
like renovating or restoring your old house or are you
short of money in constructing your new house? Or did
you just see this gorgeous apartment building you don’t
seem to get your mind off? How about being an owner of
it…?
Well, your search for a complete house ends here.
If you are a salaried individual, professional or an entrepreneur,
this is your opportunity to own that dream house.
We finance up to 60% of the cost of the purchase/construction/renovation
of land/house within municipal boundaries.
All we need is proof of your income and/or reference/guarantee
from your employer/individual acceptable to us.
Depending on your income and your need, a loan of NPR
500,000.00 to NPR 4,000,000.00 can be availed of at a
very competitive rate of interest. Repayments are calculated
on an Equal Monthly Installment (EMI) basis that goes
easy on your monthly budget.
Drawdown are allowed on a phase-wise manner to minimize
your interest burden. In some cases, you may even qualify
for a moratorium on principle repayment for up to 6 months.
And the tenor is kept flexible to suit your need: you
can take a minimum of 12 months or a maximum of 120 months
to repay. You also have an option of prepaying your loan
and all you will be charged is a low 1% on the outstanding
amount.
So, if you are 25 years (or more) of age or have been
in business for at least 2 years, walk in to our nearest
office and get a home loan approved for a nominal processing
fee. We guarantee a decision on your application within
48 hours of receipt of your completed application.
Our credit & marketing officers will be pleased to
provide further information.
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| Terms & Conditions |
Property being mortgaged should be located within
municipal boundaries of Kathmandu Valley and in
other residential / commercial sector of developing
areas within 40 KMs from the heart of Kathmandu
(Hanuman Dhoka) like Godavari, Nagarkot, Bhaktapur,
Dhulikhel, Kakani etc and must have motorable access.
As security, the Bank shall have the First Legal
Mortgage on freehold property (land + building)
valued by Bank's approved valuer with extended value
(Distress value as valued by the Bank's valuer)
not less than the 100% of financed amount.
Bank reserves the right to call for additional Registered
Mortgage over land and / or building.
First drawdown is allowed only after injection of
investment portion of the Borrower is confirmed
and subsequent drawdown is allowed in phase-wise
manner upon receipt of application from the Borrower
with details of estimated costs and confirmation
of the Bank's valuer of utilization of previously
drawn amount.
First Repayment Date is from the subsequent month
of initial drawdown in case of ready built houses
/ refinance of owned houses while a moratorium period
of six months will be provided in case of construction
/ renovation or expansion.
Repayment is to be made in Equal Monthly Installments
(Interest + Borrowings) which will not exceed 50%
of the borrower's net monthly earnings. Monthly
net savings in case of Self-employed individuals
must be 5 times of EMI.
Property being mortgaged should be insured against
fire, earthquake, flood etc with a banker's clause.
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