Real Estate Loan Scheme
"Kist Real Estate Loan" was introduced aiming to extend credit facility to individuals / firms / companies involved in real state business against mortgage of real estate property.
Who Can Apply?
- Salaried individuals
- Professionals
- Owner of small business
- Self-employed businessmen
- Real estate firms/Companies
Purpose
- Purchase of apartment. Purchase the land and /or land and building, hold it and sell it when the price goes up.
- Purchase the land, develop it and sell it making small plots.
- Purchase the land, develop it and construct buildings or colony and sell it.
- Other similar purposes as above
Salient Features
- Minimum loan NPR. 1 Million and Maximum loan NPR. 150 Million.
- Financing of upto 60% of the Fair Market Value (FMV) of the property/cost of construction as applicable or upto the maximum limit for a single borrower as prescribe by NRB whichever is less
- Maximum loan tenure of 1 year.
- Interest Rate 15.50% p.a. - 16.50 p.a.%
- Management Fee of maximum 1% of the sanctioned amount.
- Interest Payment monthly & principal at maturity. In selective cases, the interest payment shall be allowed on quarterly basis
Documents Required
Identification Documents- Citizenship certificate or Passport of applicants/joint applicants & guarantors
- Personal net worth and family detail of applicants and guarantors
- Family relationship certificate (if other documents not support to verify the relationship)
- Completed loan application form
- Copy of land ownership certificate (Lalpurja)
- Copy of land transfer deed (Rajinama)
- Copy of latest land revenue receipt.
- Original & copy of property location map (Blueprint)
- Copy of boundary demarcation certificate (Char Killa Pramanit from ward office/VDC)
- Original and copy of approved structure design (Naksa Pass) from Municipality or VDC.
- Certificate of “Construction Completed” certificate (Nirman Sampanna) from concerned Municipality and or VDC in case of ready built house to be mortgaged.
Documents related with Income Source
| Salary | Letter from the employer stating the Position, terms of employment (contract or Permanent), remaining tenure of service, total salary with all deductions and any liabilities to the employer if any. Proof of minimum 2 years continuous service is required. |
| Rental income | Copy of Rent agreement signed by lesser and lessee in presence of witness. - If the property is to be let out or there exists very high potential of rent income from such property due to it’s location, expected future income can be considered for the purpose of providing additional comfort. If the property is on rent on rooms, the rental income can be considered. |
| Income from transport business |
Copy of bluebook (ownership) Statement of income & expenses Route permit |
| Commission income | Agency certificate & certificate from the company showing total commission after TDS. |
| Medical Practitioners | Certificate from Nepal Medical Council, Letter from the employer |
| Other professionals | Self declared income statement signed by applicant |
| Business Income |
Registration certificate Tax/Vat registration certificate Last two years audited financials; Mgmt. Prepared financials supported by Vat/Tax return. |
| High Net worth Individuals | Bank account statements, copy of land ownership certificates, copies of blue book & other assets related documents |
| Agriculture Income | Land ownership certificate & agriculture income declared by local authority |
Other Benefits
- Anywhere banking at any of our 51 branches
- Above 80 ATMs to meet your cash requirement no matter where you are located.
- 365 days banking from Main Branch, Anamnagar.
- 24*7 convenience at no charges with Kist Mobile Wallet
- Clearing House Facility.
- Free ABBS Facilities.
- Free SSB Debit Card.
- Avail of facilities like Safe Deposit Locker.
- Instant Alerts facility
- Utility & Merchandise bill payment
- Nepal Telecom recharge card procurement
- SMS Banking facility
- E-Banking facility
