Citizens Equipment Loan
The Bank has been financing for purchase/import of various equipments under Equipment Loan. Equipment loan is offered to those customers who have to finance import or local purchase of construction related equipments such as Excavators, Backhoe Loaders, Dozers etc. Some of the equipment loans are advanced also to finance purchase of medical equipment to the professionals.
| Purpose: | To finance import/purchase of equipments |
| Nature: | Terminating loan payable in Equal Monthly Installment or Equated Quarterly Installment |
| Loan Size: | Up to NPR 10.0 Million or 70% value of equipment whichever is lower |
| Tenure: | Repayment period maximum 5 years. |
| Loan Portion: | Up to 70% of cost of Equipment. |
| Rate of Interest: | Base rate of preceding three months (Average Base Rate) plus premium rate or fixed rate of interest as offered by the bank |
Eligibility Criteria:
- All Nepalese Citizen having a regular source of income or any firm/company in business with profitable operation since last two years.
- In case of individual having business income or firm/company, the business should be in operation for a minimum of two years with profitable operation.
- The applicant must be at least 21 years and should not exceed 75 years at the time of maturity.