Loan FAQs

 

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)


Frequently Asked Questions

 

 

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.

 

 

 

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

 

 What is the penalty for default?

 

 Additional 3% interest on the outstanding principle installment calculated on daily basis

 

 

 

Do I need to obtain insurance for my property or vehicle?

 

 Yes! For House and building, coverage of earthquake, fire and shock is required and for Vehicle comprehensive coverage is required.

 

 

 

How do I make my monthly installment payments?

 

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.comís account in Kathmandu. Payments received by Thamel.com will be automatically credited to the loan amount.


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