Flexi Loan

Flexi loan is a hybrid type of loan given against collateral. This loan consists of 50% term and 50% overdraft as a part of total loan. 

Purpose of loan : To meet personal requirements

Loan Limit :  As per manual or as  NRB directives

EMI/EQI : As per NRB directives

Period of Loan : 

•    Flexi Term Loan = 5 to 10 years

•    Flexi Overdraft Loan = for 1 year and can be renewed/reviewed  if satifactory 

Eligibility.

• Any Nepalese citizen having 18 years at the time of loan origination 
• Individual having adequate, stable, steady and regular source of income to serve installment and interest. 
• Should have At least 8 ft wide motor able road access of proposed land/building

Documents Required:

1. Identification Related 

• Personal identification of borrower and guarantors
• Photograph  of borrower and guarantor
• Family details from concerned local authority.
• Firm registration certificate (if business income)
• PAN/VAT certificate (if business income)
• Partnership deed (if business income)

2. Collateral Related 

• Land ownership certificate
• Land revenue receipt
• Rajinama/Bakaspatra/Anshabanda paper etc
• Ward map and File map of collateral
• Four boundaries (charkilla)
• Approved house map from local authority.
• Nirman Ijajat of constructing building
• Nirman Sampanna/abhilekhikaran paper

3. Income Related 

• Salary certificate and bank statement. 
• Appointment letter/Contract Paper.
• Rental agreement with tenant identification (if rent income)
• Rental tax receipt
• Pension Patta (if pension income)
• Audited financial statement of last year and projection of coming year (if business income) 
• Tax clearance certificate/receipt for income
• If foreign income, Passport, Visa, Salary certificate, Contract paper/appointment letter, salary receipt/ bank statement of salary, documents of remit to Nepal etc.