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Citizens Loan

Loans Schemes

Citizens Mortgage Loan(Term Loan)

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)

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

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

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

Citizens 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.

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.

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.

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.

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 1% to 4% p.a. over the Base Rate

Citizens One Zone One Product

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.

*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)

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

*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,

Term Loan

Overdraft

Working Capital Loan/ Short Term Loan/ Demand Loan/ Bridge Gap Loan/ Pledge Loan

Trust Receipt Loan

Export Finance

Other Loan

Loan against Government Bond

Loan against Citizens Fixed Deposit Receipt and Promissory Note

NPR Loan Against FCY Fixed Deposit Receipt

Consortium Financing

Deprived Sector Loan

Subsidized Loan

Bank has offered various concessional loans for paving the way for unemployed educated youths, returnee migrant works, women entrepreneurs, Dalits, earthquake victims, other targeted groups as Subsidized loans. Details of various subsidized loans are as follows:

1. Commercial Agriculture and Livestock Loan

Purpose: To meet the financial requirement for commercial agricultural and livestock farming (e.g: seed plantation, vegetable, forestry, Horticulture, Animal Husbandry, production, processing, stocking and selling and distribution)
Nature: Terminating loan payable in Equal Monthly Installment
Loan Size: Minimum of NPR 50,000.00 and Maximum of NPR 50.00 Million
Tenure: Minimum: 1 year

Maximum: 5 years

Rate of interests: Base Rate of last month plus Premium Rate @ 2% minus Interest Subsidy of 5% (No other charges)

Eligibility Criteria:

  • The applicant must be at least 18 years and should not exceed 60 years at the time of maturity.
  • Should not be blacklisted at CIC

2. Educated Youth Self Employment Loan

Purpose: To meet the financial requirement to jobless educated individuals to start a business
Nature: Terminating loan payable in Equal Monthly Installment
Loan Size: Minimum of NPR 50,000.00 and Maximum of NPR 700,000
Tenure: Minimum: 1 year

Maximum: 5 years

Rate of interests: Base Rate of last month plus Premium Rate @ 2% minus Interest Subsidy of 5% (No other charges)

Eligibility Criteria:

  • Should have minimum academic qualification of Bachelor Degree or Equivalent.
  • Should not be above 40 years of age at the time of loan approval
  • Required to submit original academic certificate as collateral
  • The applicant must have taken at least 7 days entrepreneurship or skills training from government entity viz; Department of Cottage and Small Industries, Vocational and Skill Development Training Centre, Council for Technical Education & Vocational Training (CTEVT) etc.
  • Should not be blacklisted at CIC

3. Foreign Employment Returnee Project Loan

Purpose: To meet the financial requirement for doing various businesses
Nature: Terminating loan payable in Equal Monthly Installment
Loan Size: Minimum of NPR 50,000.00 and Maximum of NPR 1.00 Million
Tenure: Minimum: 1 year

Maximum: 5 years

Rate of interests: Base Rate of last month plus Premium Rate @ 2% minus Interest Subsidy of 5% (No other charges)

Eligibility Criteria:

  • The borrower shall have minimum working experience (with or without obtaining work permit) of at least 6 months in training/employment/business field from the foreign country.
  • The individuals holding permit for permanent residency (PR/Green Card) shall not be eligible to avail such loan.
  • Return date should not exceed time frame of 3 years (documentary evidence required).
  • This facility shall be provided to foreign employment returnee against the Business project related to the knowledge and skill he gained abroad
  • Should not be blacklisted at CIC

4. Women Entrepreneurship Loan

Purpose: To meet the financial requirement of the woman for encouraging them to start business venture
Nature: Terminating loan payable in Equal Monthly Installment
Loan Size: Minimum of NPR 50,000.00 and Maximum of NPR 1.50 Million
Tenure: Minimum: 1 year

Maximum: 5 years

Rate of interests: Base Rate of last month plus Premium Rate @ 2% minus Interest Subsidy of 6% (No other charges)

Eligibility Criteria:

  • Loan to be advanced to woman only
  • Where loan is provided to a group, group should be form with minimum of 5 women from different families having minimum age of 18 years
  • Should not be blacklisted at CIC

5. Dalit Community Entrepreneurship Development Loan

Purpose: To meet the financial requirement of the youth under Dalit Community to start business for modernizing and promoting the traditional skill and occupation of Dalit Community.
Nature: Terminating loan payable in Equal Monthly Installment
Loan Size: Minimum of NPR 50,000.00 and Maximum of NPR 1.00 Million
Tenure: Minimum: 1 year

Maximum: 5 years

Rate of interests: Base Rate of last month plus Premium Rate @ 2% minus Interest Subsidy of 5% (No other charges)

Eligibility Criteria:

  • The borrower should be from Dalit Community
  • Recommendation from Rural-Municipality (Gaupalika) or Municipality regarding their belongingness to Dalit Cast
  • Shall operate business for modernization and promotion of traditional skill and occupation of Dalit Community
  • Where loan is secured to the group, group should be form with minimum of 5 individuals of Dalit Cast from different Dalit families having minimum age of 18 years
  • Should not be blacklisted at CIC

6. Higher & Technological or Vocational Education Loan

Purpose: To meet the financial requirement of the student to pursue higher, Technological and Vocational bachelor level or higher studies defined by Nepal Government.
Nature: Terminating loan payable in Equal Monthly Installment
Loan Size: Minimum of NPR 50,000.00 and Maximum of NPR 500,000.00
Tenure: Minimum: 1 year

Maximum: 5 years

Rate of interests: Base Rate of last month plus Premium Rate @ 2% minus Interest Subsidy of 5% (No other charges)

Eligibility Criteria:

  • Should have minimum academic qualification of Higher Secondary Level or Equivalent.
  • Should not be above 25 years of age at the time of loan approval
  • Documentary evidence of admission or Documents verifying the eligibility of admission in the Educational Institution of Nepal
  • Should not be blacklisted at CIC

7. Earthquake Victims Residence Construction Loan

Purpose: To support the earthquake victims to construct the residential building for personal use.
Nature: Terminating loan payable in Equal Monthly Installment
Loan Size: Minimum of NPR 50,000.00 and Maximum of NPR 300,000.00
Tenure: Minimum: 1 year

Maximum: 5 years

Rate of interests: Base Rate of last month plus Premium Rate @ 2% minus Interest Subsidy of 5% (No other charges)

Eligibility Criteria:

  • Earthquake victims should not have taken any institutional subsidy other than the subsidy provided by Nepal Government.
  • Earthquake victims unable to construct residence due to financial crisis that has entered into agreement with National Reconstruction Authority.
  • Neither of the borrower nor the immediate family member has residence within the nation.
  • The subsidized loan facility must be utilized within the time frame defined by National Reconstruction Authority to construct (complete) the home.
  • Borrower availing the earthquake victim residence reconstruction loan shall not be eligible to apply for loan under any other scheme.

Citizens Mortgage 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)