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Citizens Mortgage Loan

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%

Eligibility Criteria:

  • All salaried or self-employed Nepalese Citizen having a regular source of income.
  • The land and/or building to be mortgaged should have a minimum of 8 ft motorable road.
  • In case of self-employed, the business must be running for a minimum of two years.
  • The applicant must be at least 18 years and should not exceed 65 years at the time of maturity.
  • Third party collateral, other than the property of the borrower or borrowers' undivided family, will not be acceptable.