This facility is a secured loan to individuals based on income stream to meet ones financial need to fulfill personal, family and social obligations. This facility may extend to:
Meet the fund requirement of individuals for various personal needs like marriage, traditional rituals, medical treatment, travel, personal investment, settlement of personal borrowings, Leisure and vacation, health and wellness, and other various needs.
Equity refinance against land and/or building owned by the individual
Minimum loan limit under MBL Mortgage Loan is NPR 500K and maximum limit is below NPR 5,000K. Maximum tenure under MBL Mortgage Loan shall be 15 years including maximum moratorium period (grace period) period of 12 months. In case of overdraft facility, the tenure shall be one year from date of disbursement, which may be subject to renewal on satisfactory performance.
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 customer, 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 customer also). However, at least one of the borrowers must meet the above criteria.