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%|
- 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.