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 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,

Here's what we offer

Eligibility Criteria:

All Self employed Nepalese Citizen engaged in micro businesses, entrepreneurs or having other reasonable source of income.
Any business unit in operation, having PAN no., and registered with any government entity, including Gaunpalikas and Municipalities.
The applicant must be at least 18 years and should not exceed 60 years at the time of maturity.

In Need of Assistance?

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