HOUSING LOAN SCHEME

We are here to help you build the home of your dreams with flexible financing. Whether you’re buying land, your first house, construction of dream home, or renovating your current space, NSBL Housing loan will make it easier and less stressful.

Features:

• Competitive Interest Rate.
• Easy and Quick Processing.
• Flexible Tenure up to 30 years.
• Moratorium Period up to 12 months.
• Repayment based on Equated Monthly Installments (EMI).

Quantam of loan

• 90% of purchase price for purchase of land or land and building (Maximum loan for purchase of land will be up to Rs. 200.00 lacs)
• 90% of project cost for construction of new buildings/ extension/ renovations/ completion of interiors.
• 100% of the loan outstanding in case of takeover.

 The quantum of the loan shall be subjected to Loan-to- Value guidelines circulated by NRB

Terms and Condition:

• Monthly Interest/EMI (Equated Monthly Installment) should not exceed 70% of borrower’s gross income supported by tax receipts and bank’s statement.
• Uncommitted net monthly income available for repayment shall be at least 1.33 time the EMI payable of the loan.
• The properties offered as collateral should be accessible by public motorable road of at least 8 feet wide.
• For loans sanctioned for purchase of land to construct buildings, completion of construction of buildings shall be done within three years.

Documents Required

• Application Form along with KYC documents
• Net-worth/Multiple Banking declaration of the borrowers/guarantors
• 2 passport size photographs of each borrowers.
• A copy of citizenship certificate & National Identity Card.
• Copy of Audited Financials in case income is from business.
• PAN, wherever applicable
• Statement of Bank Account for the last 12 months (if having account).
• Original Lal Purja of the property.
• Original survey map (Blue Print)
• Latest Malpot (land revenue) payment receipt
• Approved floor plan by municipality or other authority, where applicable.
• Construction completion in case of building, where applicable.
• Others as advised by the Bank from time to time.

Service Charges: As per Bank’s Service Charge and Fees Schedule