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. However, employees/ex-employee of other institution of high reputation may also consider under this product whose salary accounts has been managed by MBL.
Minimum loan limit under MBL Privilege Loan is NPR 100K and maximum limit is below NPR 5,000K. Maximum tenure under MBL Privilege Loan shall be 15 years including maximum moratorium period (grace period) of 12 months. In case of overdraft facility the tenure will be one year from date of disbursement, which may be subject to renewal on satisfactory performance.
Privilege Overdraft (POD): It shall be either fully settled in one year or renewed annually upon satisfactory performance. Overdraft can be available for all purposes (except clearly stated speculative transactions)
Privilege Term Loan (PTL): It shall be repaid within a predetermined period in multiple installments