Super Chamatkarik Ghar Karja is the new product that aims at providing simplified loan products with higher loan eligibility and flexible accommodation parameters. With the most competitive interest rate and attractive features, customers will have the flexibility to determine their payment amount at their choice.
Purposes of Loan:
Purchase of readymade house
Purchase of apartment having land ownership certificate in the name of the borrower
Construction of house
Purchase of developer constructed house
Refinance/Swap of existing home loan.
Renovation/Extension of the existing house.
Equity financing for land or land & building
Term Loan, Overdraft and Mix of Term Loan and Overdraft
Minimum 21 years (at the time of application) and a maximum of 80 years at the time of maturity.
Minimum NPR 0.4 million to maximum NPR 15 million
Minimum 5 years up to 25 years (excluding moratorium period for a new loan)
Maximum up to 5 years for construction and renovation/extension work only
8.25% p.a. (interest rate locked for first 1 year)
After the 1st year interest rate shall be then base rate and premium equaling 8.25%, in case the base rate after one year is more than 8.25% then the interest rate shall be equal to the base rate.
Prepayment/Partial Settlement/SWAP Charge
For First Home Buyer: up to 70% of FMV of the property
For other customers, LTV shall be as follows:
Purchase of independent/ ready-built houses through individuals and developers/ apartments
Inside Valley: up to 50% of FMV of the property
Outside Valley: up to 60% of FMV of the property
Construction and renovation / extension
Up to 100% of the cost of construction/extension/renovation subject to combined Loan to Value of land and the completed portion of the building shall not exceed 60% of Fair Market Value of collateral outside the valley and 50% of FMV of collateral inside the valley.
Plot purchase (residential) subject to the condition that construction starts within 2 years of the purchase of land
Inside Valley: up to 40% of FMV of the property
Outside Valley: up to 50% of FMV of the property
Ready built house/flat/apartment- should not be older than 30 years at the time of loan application.
The total age of the building shall not be more than 60 years at the time of maturity of the loan.
(*) Note: Other Terms and Conditions shall be applicable as per the Bank’s Policy. In addition, to the above-mentioned parameters the Bank can analyze other details too, where deemed necessary.