MBL Privilege Loan
This loan facility is a secured loan to employee/ex-employee of institutions whose salary accounts managed by MBL to meet ones financial need to fulfill personal, family and social need.
Notice/News Publication |
Overview
The MBL Privilege Loan is a secured financing for employees and ex-employees of institutions whose salary accounts are managed by MBL. The loan supports personal, family, and social financial needs. High-reputation employees/ex-employees from other institutions may also be considered if their salary accounts are managed by MBL.
Additional Features
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Loan Limit: Minimum NPR 100,000; Maximum below NPR 5,000,000
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Purpose: Personal, family, and social financial needs
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Tenure: Up to 15 years, including a maximum moratorium (grace) period of 12 months
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Overdraft Facility: Tenure of 1 year from date of disbursement, renewable upon satisfactory performance
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Additional Features
• Flexible repayment options based on loan type
• Overdraft facility with renewal option
• Designed specifically for salary account holders of MBL-managed institutions
• Supports personal, family, and social financial requirements
Loan Types
• Privilege Overdraft (POD): Can be fully settled in one year or renewed annually upon satisfactory performance. Available for all purposes except clearly defined speculative transactions.
• Privilege Term Loan (PTL): Repaid over a predetermined period in multiple installments.
Eligibility
• Nepalese citizens (individuals only)
• Employee or ex-employee of an institution with salary accounts managed by MBL
• 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 with proper eligibility verification
Documentation
Duly completed and signed the loan application form
Multiple Banking Declaration form (if applicable)
Citizenship certificate and recent photographs of applicant(s)
Income verification documents
Bank statements or financial documents as required by MBL
Other supporting documents as requested by the Bank