Purchase of residential plot (land) and to construct residential building.
Purchase of Individual houses / Residential apartments.
Purchase of Bungalow / Apartment constructed by builders/ developers.
Refinancing of already built residential land and building.
Renovation, modification, extension of existing building.
Purchase of loan from another bank or financial institutions.
Features and Benefits
Competitive Premium rate.
Flexible Repayment Schedule: Monthly (EMI) or quarterly (EQI) basis.
Fast approval process.
Prompt services.
Facility available in all branches.
Tenure: up to 25 years.
Financing up to 50% of fair market value of property within Kathmandu Valley and 60% outside Kathmandu valley.
Grace period up to one year
Counseling to help better financing by our Relationship Managers throughout the process
Eligibility
Individual- Nepalese Citizen above 21 years. Spouse/father/mother/brother/sister (living in single family) will also be eligible as a co-applicant with personal guarantee.
Salaried individual, self-employed persons, Company/firm having sufficient income and cash flow to serve debt.
Sufficient income source to repay at the satisfaction of the Bank.
Company (Pvt./Public)/Proprietorship/Partnership (duly registered with the concerned government authority) proposing to use the apartments for residential use.
Purchase of loan is subject to the satisfactory debt servicing to other Banks/FIs.
EMI /EQI– 50% of gross income.
EMI /EQI– 80% of uncommitted (disposable) income.
Acceptable collateral to the bank (the residential property being purchased).
Documents Required
Identification
2 Passport size photo of applicant.
Photocopy of Citizenship certificate of applicant and guarantor.
Photocopy of Tax/PAN/VAT certificate along with registration certificate.
Photocopy of Article of Association and Memorandum of Association if applicable.
Board resolution to avail loan in case of company.
Proof of Income
Latest Salary certificate issued by employer.
Contract between applicant and his/her employer.
Photocopy of Rent Contract if any.
Photocopy of audited/management prepared Financial Statements.
Lease agreement in case of rental income.
Others documents if any.
Others
Loan application firm duly filled and signed in standard format of the Bank.
Name of the family members with age.
Net worth declaration.
Original quotation of housing company, if being bought from housing company.
Original Blue Print of the land (Napi Naksha) certified by concerned authority.
Copy of construction completion certificate from Municipality/Rural Municipality in case of purchasing already built house (Nirman Sampanna Pramanpatra – construction completion certificate).
Copy of detailed breakdown of cost estimation from the applicant’s consultant.
Copy of land ownership certificate (Lalpurja).
Original latest land revenue receipt (Malpot Receipt).
Copy of blue print of building approved from Municipality/ Rural Municipality (Naksha Pass).
Copy of land Transfer Deed (Rajinama).
Original four Boundary Disclosure (Char Killa Pramanit) from ward office.
Approval letter of municipality for extension and renovation/modification (if needed) of house.
In case of Purchase of loan, loan statement from other banks and financial institution.
Net worth declarations.
Other documents stipulated by the Bank from time to time.