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Mortgage Loan

Shortage of funds can bring upon formidable challenges in our personal and professional life. Be it expanding your business or starting a new one, paying off old debts, covering emergency medical bills, building a future with the best education, celebrating a dream wedding, the importance can be of many and requires additional funds. Nabil Mortgage Loan is the Perfect Solution! It is an easy and hassle-free term loan that can be paid in a longer period with a minimum competitive interest rate by simply mortgaging your fixed asset. Nabil Mortgage Loan helps you overcome all your financial challenges effortlessly.

Features

Loan size upto NPR 30 million

Specially designed customized products

Multi-purpose loan

Attractive and Competitive Interest Rate

Quick loan processing with simplified documentation

Flexible loan tenure (Up to 35 years)*

Equated Monthly Installment (EMI) based loan

Interest is charged on the reduced principal outstanding

Excellent Financing Parameters such as limit, tenure, ratio, etc.

Personal counseling throughout the process

Loan processing from a wide range of branch networks

Loan size up to NPR 30 million

Terms & Conditions

  • Equated Monthly Installment (EMI) of the borrower should not exceed 50% of the borrower’s Gross Income after deducting other loan obligations
  • Loan to value should be 50% of the fair market value of the property as per NRB's guidelines. LTV however shall not be more than 80% of distress value. 
  • Disclosed income must be substantiated by the transaction volume of the Bank account along with tax paid receipts
  • In case of existence of building or construction financing, the building to be insured against Fire, Earthquake, Terrorism, etc as applicable with the Banker’s Clause for the full value
  • The property proposed for the mortgage should have at least 8 feet wide motorable access. If the property is 1 ropani or above in area then 10 feet wide motorable access is required.

*The age of the applicant/co-applicant should be minimum of 18 years at the time of loan origination and the maximum age at the time of loan maturity is up to 70 years.

Fees & Charges

ParticularsCharges
Loan Administration Fee

0.75% of the loan amount 

 

Commitment Fee

0.15% of the unutilized limit

Prepayment Fee
Prepayment Time PeriodRate of Prepayment
Within 2 years from the date of
disbursement		0.75% of the prepaid
amount
From 2 to 5 years from the date
of disbursement		0.375% of prepaid amount
 
After 5 years from the date of
disbursement		0.15% of prepaid amount

Note: The above rates are subject to change at the direction of the regulator 

CIC Charge

On Actual Basis

All other charges as per directives issued by Nepal Rastra Bank. 

 

Eligibility

  • All individuals having a sufficient level of income to repay EMIs
  • Salaried individual - Should be in permanent service
  • Self Employed individual – Business should be at least 2 years in commercial operation
  • The plot should have at least 8 feet wide road with motorable access
  • The plot should be free from Guthi and/or Mohi
  • The plot should be far away from high tension line
  • Third-party collateral is not acceptable

Required Document

 Identification

  • Photograph (2 copies each)
  • Citizenship and/or Passport
  • Relationship Certificate (if applicable)
  • Marriage Certificate (if applicable)
  • Bank (deposit & loan) account statement of at least 6 months
  • Firm/Company Registration Certificate (if applicable)
  • PAN/VAT Certificate (If applicable)
  • Article of Association (AOA) and Memorandum of Association (MOA) (if applicable)
  • Partnership Deed (if applicable)
  • PAN Certificate of the individual (for Loan amount above NPR 5 million)
  • Location Map (Residence & Office)

Security/Collateral

  • Land Ownership Certificate (Lalpurja)
  • Rajinama or Bakaspatra or Ansha-banda
  • Malpot Receipt
  • Tax clearance of building
  • Blue Print and trace map
  • Char Killa Pramanit
  • Approved house map
  • Nirman Sampanna Patra/Abhilekhikaran
  • Ghar Kayam in Lalpurja in case of existence of house

Income Source

  • Salary Certificate
  • Rental Agreement along with tenant’s identification (If any)
  • Audited Financials of last 2 fiscal years (For business income) Pension document
  • Copy of renewed/valid blue book of commercial vehicle along with route permit (For commercial vehicle income)
  • Salary certificate, work permit, valid passport with visa, pay slip and/or bank account statement (For foreign employment income)
  • Latest tax paid receipt or tax clearance certificate for all income (where ever applicable)