Home Loan

  • 1 month ago

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

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Competitive premium rate.
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Flexible Repayment Schedule: Monthly (EMI) or quarterly (EQI) basis or quarterly interest payment.
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Fast approval process.
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Facility available in all branches.
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Tenure: up to 30 years.
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Financing up to 50% of fair market value of property within Kathmandu Valley and 60% outside Kathmandu valley
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Grace period up to one year
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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.

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