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

Attractive & competitive interest rate
Loan size up to NPR 5 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

2% of outstanding in case the loan is taken over by other Banks or FIs

Valuation Charge

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

Penal Charge

Penal interest
Category		Remarks
i)	Principal Default	:	@ 3% p.a. for overdue principal amount for delayed
ii)	Interest Default	:	@ 15% p.a. for overdue interest amount for delayed

CIC Charge

On Actual Basis

Late Payment Fee

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

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