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Personal Loans

Personal Loans

NBL Personal Loans

Provided to fulfill the personal needs of an individual
Provided against the land and building

Types

Personal Term Loan
Personal Overdraft Loan

Contact: Any branches of NBL.

Eligibility:

Borrower must have regular and stable source of income
Borrower must be Nepalese citizen
The collateral must be accessible by at least eight feet wide road
Borrower must have work experience
Borrower must be 21 years of age and should not exceed 60 at the time of maturity of loan.
The retirement age must be more than the tenure of the loan.

Parameters

Criteria	Parameter
NBL Personal Term Loan
Maximum limit	Up to Rs.50 Lakh. Purpose of loan to be clear and justify for PTL above Rs.50 lakh.
Loan portion	Up to (40% inside Kathmandu Valley and 50% Outside the valley) of value estimated by valuator acceptable to the bank
Tenure	Minimum: 2 years Maximum: 15 years
First payment date	From the end of the subsequent month of initial drawn down.
Prepayment charge	0.15% prepayment charge on prepaid amount.
NBL Personal Overdraft Loan
Maximum Limit	Up to 50 Lakhs.
Loan portion	Up to (40% inside Kathmandu Valley and 50% Outside the valley) of value estimated by valuator acceptable to the bank
Tenure	1 year; can be renewed subject to periodic review
Minimum utilization limit	60% of approved limit

Processing fee

0.75% of the financed amount at the time of submission of loan application. The fee shall be refunded if the loan is not approved.

Documents

Documents	Salaried	Self Employed
Identification documents
2 Passport size photo of applicant and one passport size photo of guarantor	Required	Required
Photocopy of citizenship certificate of applicant and guarantor	Required	Required
Photocopy of Tax/PAN/VAT certificate and registration certificate	Not required	Required
Proof of Income related documents
Original Salary Certificate not more than 10 days old	Required	Not required
Photocopy of contract agreement between applicant and his/her employer	Required	Required
Photocopy of Rent Contract, if any	Required	Required
Original/photocopy of Bank Statement (Past 6 months)	Optional	Optional
Photocopy of audited/management prepared financial statements for past 3 years	Not required	Required
Land and/or building related documents
Original letter stating coparcener from local authority (Ward)	Required	Required
Original Blue Print of the land	Required	Required
Original copy of restraint letter from Land Revenue Office	Required	Required
Original construction completion certificate from Municipality/VDC in case of purchasing already built house	Required	Required
Original/photocopy of detailed break down of cost estimation from the applicant’s consultant	Required	Required
Original land ownership certificate	Required	Required
Original latest land revenue receipt	Required	Required
Photocopy of blue print of building approved from Municipality/VDC	Required	Required
Photocopy of land Transfer Deed	Required	Required
Original four Boundary Disclosure from ward office/municipality	Required	Required
Legal/Other documents
Debit authority note	Required	Required
Photocopy of Memorandum and Articles of Association/partnership deed	Not required	Optional
Credit information of borrowers and guarantors from CIC and branch	Required	Required
Cash deposit voucher of processing fee	Required	Required
Current account of the borrower	Required	Required
Credit Facility letter accepted by the borrower	Required	Required
Promissory Note	Required	Required
Original copy of loan deed	Required	Required
Insurance of the building	Required	Required
Original copy of mortgage deed	Required	Required
PAN for loan above 50 Lakhs	Required	Required

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