MBL Home Loan
MBL Home Loan is a secured financing solution designed to help customers build or acquire their dream home.
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Overview
MBL Home Loan is a secured financing solution designed to help customers build or acquire their dream home. The loan can be used for purchasing land, land with a building, constructing a new building, or renovating/extending an existing property. Flexible loan amounts and long repayment tenures ensure ease in planning and executing housing projects.
Key Features
1
Loan Limit: Minimum NPR 500,000; Maximum NPR 50,000,000
2
Purpose: Acquisition of land, land with building, construction, renovation, or extension of property
3
Tenure: Up to 25 years, including a maximum moratorium (grace) period of 12 months
4
Additional Features
• Financing for purchase, construction, or renovation/extension of property
• Long-term tenure to suit repayment capacity
• Joint borrowing allowed within the undivided family limits
Eligibility
• Nepalese citizens (individuals only)
• Minimum age: 21 years at the time of application
• Loan must be repaid before the borrower reaches 70 years of age or retirement (whichever is earlier)
• Joint applications allowed (only among members of an undivided family, with at least one eligible borrower)
• An undivided family is eligible for financing against one property only
• The borrower or co-borrower must be the owner of the property to be financed
Documentation
Duly completed and signed the loan application form
Multiple Banking Declaration form (if applicable)
Citizenship certificate and recent photographs of applicant(s)
Proof of ownership or title of property
Income verification documents
Bank statements (as required)
Quotation/estimates for construction, renovation, or purchase (if applicable)
Joint borrowers: family and relationship documents (if applicable)