Make your dream home a reality with a home loan from Global IME Bank. Home Loan is a secured type of loan borrowed for the purchase of property. The purchased property itself is used as a collateral for the loan.
Purpose
- Purchase of residential plots (land) and to construct residential buildings.
- Purchase of Individual houses / Residential apartments.
- Purchase of Bungalow / Apartment constructed by builders/ developers.
- Refinancing of already built residential land and building.
- Renovation, modification, extension of existing building.
- Purchase of loan from another bank or financial institution.
Features
Competitive premium rate.
Flexible Repayment Schedule: Monthly (EMI) or quarterly (EQI) basis or quarterly interest payment.
Fast approval process.
Facility available in all branches.
Tenure: up to 30 years.
Financing up to 50% of fair market value of property within Kathmandu Valley and 60% outside Kathmandu valley
Grace period up to one year
Counseling to help better financing by our Relationship Managers throughout the process
Eligibility
- Individual- Nepalese Citizen above 21 years. Spouse/father/mother/brother/sister (living in single family) will also be eligible as a co-applicant with personal guarantee.
- Salaried individual, self-employed persons, Company/firm having sufficient income and cash flow to serve debt.
- Sufficient income source to repay at the satisfaction of the Bank.
- Company (Pvt./Public)/Proprietorship/Partnership (duly registered with the concerned government authority) proposing to use the apartments for residential use.
- Purchase of loan is subject to the satisfactory debt servicing to other Banks/FIs.
- EMI /EQI– 50% of gross income.
- EMI /EQI– 80% of uncommitted (disposable) income.
- Acceptable collateral to the bank (the residential property being purchased).
Documents Required
Identification
- 2 Passport size photo of applicant.
- Photocopy of Citizenship certificate of applicant and guarantor.
- Photocopy of Tax/PAN/VAT certificate along with registration certificate.
- Photocopy of Article of Association and Memorandum of Association if applicable.
- Board resolution to avail loan in case of company.
Proof of Income
- Latest Salary certificate issued by employer.
- Contract between applicant and his/her employer.
- Photocopy of Rent Contract if any.
- Photocopy of audited/management prepared Financial Statements.
- Lease agreement in case of rental income.
- Others documents if any.
Others
- Loan application firm duly filled and signed in standard format of the Bank.
- Name of the family members with age.
- Net worth declaration.
- Original quotation of housing company, if being bought from housing company.
- Original Blue Print of the land (Napi Naksha) certified by concerned authority.
- Copy of construction completion certificate from Municipality/Rural Municipality in case of purchasing already built house (Nirman Sampanna Pramanpatra – construction completion certificate).
- Copy of detailed breakdown of cost estimation from the applicant’s consultant.
- Copy of land ownership certificate (Lalpurja).
- Original latest land revenue receipt (Malpot Receipt).
- Copy of blue print of building approved from Municipality/ Rural Municipality (Naksha Pass).
- Copy of land Transfer Deed (Rajinama).
- Original four Boundary Disclosure (Char Killa Pramanit) from ward office.
- Approval letter of municipality for extension and renovation/modification (if needed) of house.
- In case of Purchase of loan, loan statement from other banks and financial institution.
- Net worth declarations.
- Other documents stipulated by the Bank from time to time.