The Home Loan facility is a secured loan provided to our valued customer to build their dream home. The loan is provided for acquiring land, land and building and for construction of new building or renovation / extension of existing building. Minimum loan limit under MBL Home Loan is NPR 500K and maximum limit is NPR 50,000K. Maximum tenure under MBL Home Loan is 25 years including maximum moratorium period (grace period) of 12 months.
The applicant must be at least 21 years of age (as per citizenship certificate) at the time of submission of loan application.
The loan must be terminable before the applicant reaches the age of 70 years.
In cases where salary income has been considered for the assessment of repayment capacity of the borrower, loan must be terminable before the age of retirement, or the borrower reaches 70 years of age, whichever occurs first.
Loan can be approved in joint names (more than one borrower also). However, at least one of the borrowers must meet the above criteria. Only members of an undivided family can be joint borrowers.
Undivided family shall be eligible for the home loans against one property only.
The owner of the property (to be financed) must be borrower or one of the co-borrower.