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Citizens Loan

Loans Schemes

Citizens Mortgage Loan(Term Loan / Overdraft)

Purpose: Personal loan facility to meet personal financial obligation
Nature: Term Loan / Overdraft Facility
Loan Size: Up to 5.00 Million
Tenure: In case of Term Loan – Repayment period maximum 15 years payable in Equated Monthly Installment.
In case of Overdraft – 1-year revolving facility.
Loan Portion: Up to 50% of Fair Market Value of the collateral security (in case collateral security located outside the Kathmandu Valley)
Up to 40% of Fair Market Value of the collateral security (in case collateral security located inside the Kathmandu Valley)
Rate of interests: 1.50% - 8.00%

Citizens Auto Loan

The Bank provides loan to the customers buying a new vehicle or used vehicle or those who want to refinance the current auto loan on both the private and commercial sector. The Bank offers attractive rates, favorable terms and conditions. This product is also aimed to cater to the needs of the corporate entities. The Bank provides full or partial finance for a business vehicle.

Purpose:

Financing to purchase of new/used Private and Commercial Vehicles to individuals and business concern.

Nature:Maximum up to NPR 4.00 Million for used vehicles Loan Size: Up to NPR 7.00 Million for new vehicles Nature: Terminating loan payable in Equal Monthly Installment
Loan Size:

Up to NPR 7.00 Million for new vehicles

Maximum up to NPR 4.00 Million for used vehicles

Tenure:Maximum up to 6 years for private vehicles

Tenure: Maximum up to 5 years for commercial vehicles

Rate of interests:Premium of 1.00% to - 7.00% p.a. over the Base Rate

Citizens Home Loan

Historically and traditionally, Nepalese have preferred to buy land and build houses themselves. Now, with the changing lifestyle, demand for ready built houses is also in the rise. Considering these points, the Bank offers loan for different needs and situations. The Bank provides financing for the purchase of land and/or building, apartment, renovation, construction and extension of residential properties.

Purpose:To finance a purchase of a plot of land and/or readymade building, Construction, Repairs, Renovation, Additions, Alteration to the house/flat.
Nature:Terminating loan payable in Equal Monthly Installment
Loan Size:Up to 15.00 Million
Tenure:Repayment period maximum 25 years.
Loan Portion:Maximum up to 50% of Fair Market Value of the collateral security
Rate of Interest:Premium of 0.25% to 7% p.a. over the Base Rate

Citizens Education Loan

Education is the most important investment one makes in life. Therefore, the Bank has brought the Education Loan, which aims to finance meritorious students who choose to pursue a higher education (Professional or technical) in Nepal and abroad. The loan is extended to students/ professionals desiring to pursue higher studies such as Graduation, Post-Graduation, Specialization and Vocational/Technical courses in the country or abroad. Citizens Education loan covers a maximum of 80% of expenses in connection with the studies of the borrower in the country or abroad.

Purpose:To finance the education cost of the students desiring to pursue higher education in Nepal or Abroad
Nature:Terminating loan payable in Equal Monthly Installment
Loan Size:Maximum Up to 5.00 Million
Tenure:Repayment period maximum 15 years including moratorium period.
Loan Portion:Up to 100% of the cost pf education but not exceeding 80% of Distress Value of collateral security
Rate of interest:Premium of 1.5% to 4% p.a. over the Base Rate

SME Loan

This loan is provided to finance working capital and/or capital expenditure requirement as well as non-funded facilities such as letters of credit and guarantees for small businesses including retailers, wholesalers, cottage and small scale manufacturing and processing units, exporters, importers, contractors, educational institutions, self-employed professionals, medical /health facilities, etc.

Purpose:To finance working capital and/or capital expenditure requirement as well as non funded facilities such as letters of credit and guarantees for small businesses including retailers, wholesalers, cottage and small scale manufacturing and processing units, exporters, importers, contractors, educational institutions etc.
Rate of Interest:Rate of Interest: Premium of 0.25% to 5% p.a. over the Base Rate

Facilities provided are:

1) Term Loan

2) Overdraft

3) Working Capital Loan/Short Term Loan

4) Working Capital Term Loan

5) Trust Receipt Loan

6) Export Credit

7) Letter of Credit

8) Bank Guarantee

Citizens Margin Lending

The Bank provides loan against the shares of selected companies listed in the Nepal Stock Exchange (NEPSE).

Purpose:To meet personal financial obligations or for investment in shares/business against listed stock in NEPSE
Nature:Overdraft
Tenure:1 year revolving facility
Loan Portion:Up to 50% of the 180 days average price or previous day’s closing price whichever is lower of the shares pledged.
Rate of Interest:Premium of 1% to 7% p.a. over the Base Rate.

Loan against first class Bank Guarantee

  • The bank will extend various funded as well as non funded facilities against unconditional guarantee issued by the World Bank, Asian Development Bank and International Finance Corporation including multilateral institutions and internationally rated Banks (Banks included annually in the list of TOP THOUSAND WORLD BANKS of “The Banker’) and/or acceptable guarantees issued by the banks in line with NRB Directives issued from time to time.
  • For banks, outside Nepal, the Bank shall accept guarantees issued by only top 1000 banks as rated by the latest July issue of ‘The Bankers’ magazine each year.
  • A margin of at least 10% to be maintained on guarantee amount.
  • Interest payable on quarterly basis, as per Nepalese calendar.

Rate of Interests: Premium of 1% to 5 % p.a. over the Base Rate.

Citizens Gold Loan

This facility is for meeting any type of contingent requirements, thus harnessing the yellow metal, which is usually a “non-sweating” asset, for productive purposes. The customer can walk into any nearest branch of the Bank offering Gold Loan with the customers’ jewellery/ gold bullion. The easy documentation and simple process will ensure that a customer can avail a loan across the counter. This helps in making good use of the assets owned.

Purpose:To finance against pledge of gold or gold ornaments to individuals/firms for their private investment.
Nature:Revolving/ Non-Revolving
Loan Size:Up to 10.00 Million
Tenure:1 year (subject to annual review)
Loan PortionMaximum up to 80% of the derived value in case of solid gold and 70% of the derived value in case of gold ornaments.
Rate of Interest:Premium of 2% to 6% p.a. over the Base Rate

Citizens Bina Dhito Karja

The Bank also provides loan to those having no collateral. Citizens Bina Dhito Karja is a new product which helps to get loan without any collateral. This loan is offered to meet the financial obligation/s to fulfill personal requirement or professional requirement. The loan is advanced to meet various requirements of the Borrower such as travel expenses, medical expenses, social expenses, purchase of medical equipments and appliances for professional use, home appliances, etc.

Purpose: Terminating loan payable in Equal Monthly Installment.
Nature: Personal loan facility to meet personal financial obligation to salaried individuals.
Loan Size: Up to 1.50 Million.
Tenure: Repayment period maximum 5 years.
Rate of Interest: Premium of 3% to 8% p.a. over the Base Rate

Citizens Equipment Loan

The Bank has been financing for purchase/import of various equipments under Equipment Loan. Equipment loan is offered to those customers who have to finance import or local purchase of construction related equipments such as Excavators, Backhoe Loaders, Dozers etc. Some of the equipment loans are advanced also to finance purchase of medical equipment to the professionals.

Purpose: To finance import/purchase of equipments
Nature: Terminating loan payable in Equal Monthly Installment
Loan Size: Maximum up to 5 years
Tenure: Repayment period maximum 5 years.
Loan Portion: Up to 70% of cost of Equipment.
Rate of Interest: Premium of 3% to 8% p.a. over the Base Rate

Citizens One Zone One Product (Term Loan / Overdraft)

This product aims to bring those deprived from formal banking sector due to traditional banking approaches within the reach of our bank. In the absence of reach to the formal banking channel, those involved in agriculture have to pay higher cost to meet their financial requirements; this product provides an opportunity to be directly involved in the benefit of the farmers for their economic upliftment. At the same time, the proposed modus operandi also helps reduce the dependency of farmers with the middlemen, thereby making it more profitable to the farmers/those involved directly in agriculture. “Citizens One Zone One Product” have 14 different products, which are designed in such a way, that the product promotes use of local resources, local skill and local people’s involvement to carry out the business.

Purpose: To meet financial requirement of the people involved in agriculture and/or agricultural business.
Nature: Term Loan / Overdraft Loan
Loan Size: Up to 2,500,000.00
Tenure: Repayment period maximum of 10 years payable in Equated Monthly Installment.
Overdraft: 1 year revolving facility.
Loan Portion: Up to 60% of the Derived Value# of the collateral security.
Rate of Interest: Premium of 2.5% to 6% p.a. over the Base Rate

*Freehold agriculture land is also acceptable.
#Derived Value will be the minimum of: 5 times the government value for properties located at VDC / 3 times the government value for properties located in municipalities and/or 60% of the Market Value ascertained by the Bank and/or Fair Market Value provided by an authorized valuator of the bank.

Citizens Fast Track Loan (CFTL) (Term Loan / Overdraft)

The primary objective of the Product is to uplift the living standards of the under- privileged families by providing them financial support at the time of their need. It could be for the purpose of starting up a new business or run their existing businesses in more organized manner or meeting their financial need for any of their family/social need. In simple terms, it is aimed to cater the urgent requirement of cash for under privileged, middle class and lower class families to meet their family, social and/or business requirement by extending loans against mortgage of land (including farm land, if any) and/or buildings in urban, semi urban or rural areas.

Purpose: To meet financial requirement of the borrower, both individuals, and business units, for agriculture/business/personal use.
Nature: Term Loan / Overdraft Loan
Loan Size: Up to 500,000.00
Tenure: In case of Term Loan – Repayment period maximum 8 years payable in Equated Monthly Installment.
Overdraft: 1 year revolving facility
Loan Portion: Up to 60% of the Derived Value# of the collateral security
Rate of interest: Premium of 3% to 8% p.a. over the Base Rate.

*Freehold agriculture land is also acceptable.
#Derived Value will be the minimum of: 5 times the government value for properties located at VDC / 3 times the government value for properties located in municipalities and/or 60% of the Market Value ascertained by the Bank and/or Fair Market Value provided by an authorized valuator of the bank,