Housing Update

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Housing Loan
Home Loan
" Current Home Loan Trend"
 
Finance up to NPR 10,000,000/-(Max) or 60% of the total value (whichever is lower) for
Readymade Houses/Buildings
Construction of House/Buildings,
Readymade apartment, bungalow, duplex
Renovation and / or extension of building
 
Interest Rate
10.50% per annum on EMI basis. (Applicable for new loans only)
 
Tenure
Maximum of 15 years
Loan shall be terminated on /or before 60 years of age of the borrower.
Repayment: Equal Monthly Installments (EMI)
 
ELIGIBILITY
Self employed professionals having reliable/stable source of income or income of own family supported by the documentary evidence.
Any other individuals having identifiable source of income supported by the documentary evidence of the same.
Employees of corporate entities supported by salary slips and employer's undertaking that salary will be routed through the Bank.
Borrowers' uncommitted  income should be 25% more than the Equated  Monthly Installment (EMI)
Nepalese Citizens only but should be above 18 years of age and last installment to be repaid within 60 years of his/ her service, unless steady and regular income justifies.
For the corporate borrowers, company's past performance of 2 years and projection reports of 2 years, (including current year) its financials as well as the reputation of the promoters will be considered.
 
FEES AND CHARGES 
The following charges are to be levied
Processing fee: 1 %( Flat) of the loan amount.
Unscheduled payment: 1% of payment amount.