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Loan Against Mortgage |
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 Eligibility
and Purpose |
| Loan against mortgage of immovable property located in urban centers of
Kathmandu, Lalitpur, Bhaktapur, Biratnagar, Birgunj, Butwal, Bhairahawa,
Janakpur, Pokhara and Itahari will be allowed for meeting their business and
personal needs.
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| Amount
of Loan |
- 30 times of net monthly income or Rs. 2.00 crore whichever is lower.
- Minimum loan amount in Rs.5 lacs
- Income of spouse and unmarried son/ daughter/ joint family members can be
taken into consideration for determining income criteria. In such case, the
facility should be allowed in joint names or against their guarantees
- Income of spouse can be taken into
consideration for determining income
criteria.
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| Interest
Rate |
- Incase of Term Loan
10.00% p.a.
- Incase Of Overdraft
9.50% p.a.
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| Security |
- Registered
mortage of non-encumbered residential house/flat,
commercial or industrial property in the
name and possession of the borrower. The
property should be of value equal to 150%
of the loan amount incase of Term Loan and
200% of the limit amount incase of overdraft.
(Conatual to be not shared with other loans)
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| Repayment
Period |
- Incase of Term Loan
- Loan amount together with interest is to be repaid in (60-120) equal monthly installments.
- Repayable should be fixed on a realistic basis, which should not normally exceed 50% of gross income
- Incase of Overdraft
- Where the limit is in the shape of overdraft, it should be renewed/reviewed annual
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| Insurance
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The
property should be insured for Fire,
Riots and terrorism wherever required,
against other appropriated hazard such
as earthquake, flood, lighting etc.
by the borrowers for the value or property.
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Services
