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Purchase of residential plot (land) and to construct residential building.
Features and Benefits
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
Competitive Premium rate
Flexible Repayment Schedule: Monthly (EMI) or quarterly (EQI) basis.
Fast approval process
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
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– 80% of uncommitted (disposable) income
Acceptable collateral to the bank (the residential property being purchased)
2 Passport size photo of applicant
Proof of Income
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
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
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
Refer to your nearest branches.
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