Friday June 18,2021

Nabil Property (Mortgage Loan)

Looking for an easy finance to fulfill your every need? You no longer need to wait to realize your dreams. We will make your life picture perfect with our Mortgage Loan and allow you to fulfill your personal requirements instantly.

Avail mortgage loan today with your existing property and unlock the potential in your property.

Purpose of Mortgage Loan

  • Give your home a makeover
  • Purchase of consumer durables
  • Higher education
  • Perfect wedding function
  • Long vacation holidays
  • Any other personal obligations

Features of Mortgage Loan

  • 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 wide range of branch networks

Required Documentation Checklist

1. 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)

2. 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

3. 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)

Terms & Conditions

  • Equated Monthly Installment (EMI) of the borrower should not exceed 50% of the borrower’s Gross Income after deducting other loan obligations
  • Disclosed income must be substantiated by the transaction volume of the Bank account account along with tax paid receipts
  • Incase 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 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 10 feet wide motorable access is required.

Frequently Asked Questions (FAQS)

 

Fees & Charges

Particulars Charges

Loan Administration Fee

0.75% of the loan amount

Commitment Fee

0.15% of the unutilized limit

Prepayment Fee

0.15% on amount prepaid. No prepayment fee for loan limit of up to and below 50 lacs.

0.15% of outstanding in case the loan is taken over by other Banks or FIs

Valuation Charge

0.125% of Fair Market Value or NPR 30,000 whichever is lower

Penal Charge

Penal interest

Category

Remarks

i)

Principal Default

:

@ 2% p.a. for overdue principal amount for delayed period

ii)

Interest Default

:

Penal Interest shall be collected @2% plus on effective interest rate (i.e. base rate +applicable premium rate) of the particular defaulted account on overdue interest amount for delayed period.

CIC Charge

On Actual Basis

Mortgage/Rokka Cost

On actual basis based on the loan size

Eligibility

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

  • All individuals having 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 motor able 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

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