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Mortgage Loan |
Vehicle Loan |
Student Loan |
| Loan Description |
Bank will finance purchase,
construction and renovation of a house, flat or an apartment in
Nepal |
Automobiles only (Private or
Commercial) |
Cost of the tuition and
admission for Nepalese
students |
| Qualifying Countries |
World Wide |
World Wide |
World Wide |
| Down Payment |
20% |
20% |
25% |
| Minimum Loan Amount |
RS 500,000.00 |
RS 300,000.00 |
RS 300.000.00 |
| Maximum Loan Amount |
RS 10,000,000.00 |
RS 7,500,000.00 |
RS 1,500,000.00 or 75% of the total
expenditure whichever is lower |
| Tenure of repayment of
loan |
12 months to 180 months |
12 months to 84 months |
12 months to 84 months |
| Collateral |
Equitable mortgage on the property that
you are going to buy, build or renovate |
Registration of the financed vehicle in
the Banks name. Property insured for adequate value in the Bank's
name |
Equitable mortgage on the property that
you or your blood relatives own |
| Loans Available for
following cities in Nepal |
Kathamandu, Pokhara, Birat Nagar, Birgunj
& Itahari |
Kathamandu, Pokhara, Birat Nagar, Birgunj
& Itahari |
Kathamandu, Pokhara, Birat Nagar, Birgunj
& Itahari |
| Immigration Status |
Except for students, all types of legal
visas including business and work permit. Others please call
customer service |
Except for students, all types of legal
visas including business and work permit. Others please call
customer service |
Student Visa, offer or admmission letter |
| Minimum Income |
Income has to be equal or more than 1.25
times the Equal Monthly Installments (EMI) |
Income has to be equal or more than 1.25
times the Equal Monthly Installments (EMI) |
Income has to be equal or more than 1.25
times the Equal Monthly Installments (EMI) |
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| Frequently
Asked Questions |
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Am I required to maintain
KBL Account? |
| Yes. You are required to maintain
current account with minimum balance of NPR 10,000 at the
time of loan approval. |
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What are the documents
required?
( For Salaried
Individuals)
- Letter from Employer
- Passport Photocopy
- Undertaking letter stating
that you would guarantee the monthly installment
payments on behalf of relative in Nepal
- Identity Card (issued by
States ID or Employer)
- Recent 6 months Bank Statement
- any other documents supporting
Evidence of income certificate
(For Self Employed / Business
Entity)
- Photocopies of Business
Registration
- 2 most recent and concurrent
business and/or personal tax returns..i.e. 1040,
Schedule C,
and/or K-1 all pages signed by the borrower
- Partnership Deed/ Memorandum
of Association and Article of Association
- Photocopy of board resolution
covering authority to execute loan to a designated
person
- Recent 12 months bank
statement that shows business
transaction/remittance/rent etc being credited
- Rental Property Income (if
any): Tax returns. Leases, appraisal summaries with rent
reports
(For Student Loan)
- Offer Letter or Admission
Letter
- Academic Certificates of Grade
12 and above
- Financial expenses document
i.e. tuition/boarding fees etc
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What
is the penalty for default? |
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Additional 3% interest on the
outstanding principle installment calculated on daily basis |
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Do I need to obtain
insurance for my property or vehicle? |
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Yes! For House and building,
coverage of earthquake, fire and shock is required and for
Vehicle comprehensive coverage is required. |
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How do I make my monthly
installment payments? |
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Payments for mortgage and vehicle
from USA will need to come through Thamel.com. for education
loans, you can send money through third party bank or money
service business to Thamel.com’s account in Kathmandu.
Payments received by Thamel.com will be automatically
credited to the loan amount. |
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