Personal Overdraft
Personal Overdraft is a product 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
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Attractive & competitive interest rate
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Loan size up to NPR 5 million
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Annually renewable
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Personal counseling throughout the process
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Simplified documentation requirements
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Quick approval and transparent loan processing
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Loan processing from wide range of branch networks
Terms & Conditions
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50% of Distress value of the property is required in margin
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Interest to be served on a monthly basis whereas principal to be serviced on an annual basis if not renewed at maturity/expiry.
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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)
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Disclosed income must be substantiated by the transaction volume of the Bank account
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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
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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
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1% of the loan amount
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Commitment Fee
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1% of the unutilized limit
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Prepayment Fee
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NA
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Valuation Charge
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0.125% of Fair Market Value or NPR 5,000 whichever is higher
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Penal Charge
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2% of the outstanding amount after the expiry of the facility |
CIC Charge
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On Actual Basis |
Late Payment Fee
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NPR 500 each in case of principal and/or interest default |
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