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 NPR 2.0 Million |
Tenure: | In case of Term Loan – Repayment period maximum 10 years payable in Equated Monthly Installment. |
Overdraft: | 1 year revolving facility |
Loan Portion: |
Up to 80% of the Distressed Value in case of real estate property having minimum 8 Ft. road access to be mortgaged in favor of the bank. Or, 60% of Derived Value of collateral having less than 8 Ft. road access or no road access to be mortgaged in favor of the bank. |
Eligibility |
Any Nepali Citizen above age of 18 and maximum age of 60 years at the time of loan maturity. |
*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,
Eligibility Criteria:
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