Tuesday October 16,2018
Home PERSONAL Loan Personal Overdraft

Personal Overdraft

Personal Overdraft is a supplementary product to Nabil Housing and Nabil Properties. It is a quick solution to meet your immediate and contingent fund requirements. The loan processes are simplified and includes features of convenient payback facilities together with reinstating credit lines.

Features of Personal Overdraft

  • Attractive & competitive interest rate
  • Loan size up to NPR 2.50 million
  • Annually renewable
  • Personal counseling throughout the process
  • Simplified documentation requirements
  • Quick approval and transparent loan processing
  • Loan processing from wide range of branch networks

Terms & Conditions

  • 50% of Distress value of the property is required in margin
  • Interest to be served on a monthly basis whereas principal to be serviced on an annual basis if not renewed at maturity/expiry.
  • Loan Repayment obligation of the borrower should not exceed 80% of the borrower’s Uncommitted monthly income (i.e. net saving after all expenses except EMI)
  • Disclosed income must be substantiated by the transaction volume of the Bank account
  • 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 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)

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Fees & Charges

Particulars Charges

Loan Administration Fee and renewal

1% of the loan amount

Commitment Fee

1% of the unutilized limit

Prepayment Fee

NA

Valuation Charge

0.125% of Fair Market Value or NPR 5,000 whichever is higher

Penal Charge

 2% of the outstanding amount after the expiry of the facility

CIC Charge

 On Actual Basis

Late Payment Fee

 NPR 500 each in case of principal and/or interest default

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