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- Home Loans
Home Loans
This loan is provided for
- Purchase a plot of Land/Building.
- Construction, renovation, modification, extension of existing building,
Contact: Any branches of NBL.
Eligibility:
The criterion for taking home-loans is as follows.
- The loan is provided to any individuals who have regular and stable source of income. This loan can be given to any salaried and self-employed individuals.
- The loan will be provided to Nepalese Citizens only.
- Any house/land, which does not lie in municipal area, will not be financed. However, urban VDC can also be considered with proper justificantion.
- The land and/or house to be constructed / purchased / renovated / extended / modified should have motorable road (8 feet wide in minimum) access. Such road should be clearly seen in the blue print or be verified by concerned authority (for e.g. ward office).
- All borrowers and guarantor should not be enlisted in “Black List†of Nepal Rastra Bank.
- 3 years work experience is needed for salaried and self-employed individuals.
- In case of business income, financial statement of the company should be audited.
- The borrower must be at least 21years and should not exceed 60 years at the time of maturity. The retirement age must be more than the tenure of the loan.
Parameters:
| Maximum Loan Amount | Rs. 50,00,000 | ||
| Purchase of Land / Building | Renovation, modification, extension of Building | Construction of building on already owned/Purchased land | |
| Minimum Loan Amount | Rs. 4,00,000 | Rs. 2,00,000 | Rs. 4,00,000 |
| Loan portion |
Up to 60% of Transfer deed (Rajinama) price or value estimated by valuator approved by the bank whichever is lower For land: Up to 60% of transfer deed (Rajinama) price or value estimated by valuator approved by the bank whichever is lower. |
Up to 70% of cost of construction estimated by valuator approved by the bank | Up to 70% of cost of construction estimated by valuator approved by the bank |
| Tenure | Minimum 2 years - Maximum 20 years | ||
Processing Fee:
1% of the financed amount shall be charged upfront at the time of submission of loan application with necessary documents. The fee shall be refunded if the loan is not approved.
Prepayment Fee:
2% prepayment charge on the prepaid amount if prepayment is made within 1/3 of loan period. However, no prepayment fee will be charged if paid after maturity of 1/3 of the loan period.
| Documents required: | ||
|
Y = Required; N = Not Required; O = Optional
|
||
| Documents | Self Employed | Salaried |
| Identification | ||
| 2 Passport size photo of applicant / co-applicant |
Y
|
Y
|
| Photocopy of Citizenship Certificate / Passport (Applicant & guarantor) |
Y
|
Y
|
| Photocopy of Tax/PAN/VAT certificate along with registration certificate |
O
|
O
|
| Proof of Income
|
||
| Original Salary Certificate |
N
|
Y
|
| Photocopy of Tax/PAN/VAT certificate |
N
|
N
|
| Proof of Income | ||
| Original Salary Certificate not more than 10 days old |
N
|
Y
|
| Photocopy of Contract agreement |
N
|
O
|
| Photocopy of Rent Contract |
O
|
O
|
| Original Bank Statement (Past 3 months) |
O
|
O
|
| Photocopy of Financial Statements (Past 3 years) |
Y
|
N
|
| Others | ||
| Original Quotation of vehicle and from the body builder if body needs to be built up. Fax copy of quotation mentioning applicant’s name received from dealer is also acceptable. |
Y
|
Y
|
| Photocopy of Pension book/ ID stating name of the pensioner, amount and validity period |
|
|
| Photocopy of Contract agreement between applicant and his/her employer |
N
|
O
|
| Photocopy of Rent Contract if any |
Y
|
Y
|
| Original Bank Statement (Past 6 months) |
Y
|
Y
|
| Photocopy of Audited Financial Statements (Past 3 years) |
N
|
N
|
| Others | ||
| Original letter stating coheir (Anshiyar) of seller from local authority (ward) |
Y
|
Y
|
| Original quotation of housing company |
Y
|
Y
|
| Photocopy of Blue Print of the land (Napi Naksha) |
Y
|
Y
|
| Photocopy of Certificate of construction from Municipality/VDC in case of purchasing already built house (Nirman Sampanna Pramanpatra) |
Y
|
Y
|
| Original Private Sale Agreement in case of Private Sales |
Y
|
Y
|
| Photocopy of Memorandum and Articles of Association |
Y
|
N
|
| Photocopy of Detailed break down of cost estimation from the applicant’s consultant |
Y
|
Y
|
| Photocopy of Land ownership certificate (Lalpurja) |
Y
|
Y
|
| Photocopy of Latest land revenue receipt (Malpot Receipt) |
Y
|
Y
|
| Photocopy of Blue Print of building approved from Municipality/VDC (Naksha Pass) |
Y
|
Y
|
| Photocopy of Land Transfer Deed (Rajinama) |
Y
|
Y
|
| Original Four Boundary Disclosure (Char Killa Pramanit) |
Y
|
Y
|
| Approval letter of municipality for construction of house (Ghar Nirman Izazat Patra) |
Y
|
Y
|
| Approval letter of municipality for extension and renovation/modification (if needed) of house |
Y
|
Y
|
Notes:
- Corporate guarantee should be supported by resolution of Board of Directors.
- Oiginal certificates should be presented for verification while submitting this form.
- Salary certificate must be in the office’s letterhead having seal and must contain net salary, yourdesignation, years of service, date of retirement or expiry of contract and type of employment (permanent or contract). It should be signed along with the name and designation of the signatory.
- The bank can demand any additional documents on its own discretion.
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