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NPPF Member Housing Loan Scheme:Investment

Housing Loan (Commercial)

Eligibility
 1 : The borrower shall have been a member of the NPPF for a period of one year.
 2 : Sanctioning Limits
              – Up to Nu.20 million-NPPF Credit Committee.
              – Above Nu.20 million-National Pension Board.
 3 : The limits apply to all the Loans.
 4 : Rate and Method of Computation of Interest.
             – The rate of interest shall be 13.19% per annum computed at the end of each quarter using the Daily Product Method.
 5 : Tenure & Repayment term.
             – The maximum term of repayment shall be 20 years and a grace period ranging between 6 months to 2 years depending on the size of the building under construction shall be granted.

 6 : Security
       The primary security against the loan shall be the Land/house/apartment that is financed by the loan, and the members Provident Fund balance shall be the secondary security.

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Member Home Loan (Residential)

Eligibility
 1 : The borrower shall have been a member of the NPPF for a period of one year.
 2 : Sanctioning Limits
              – Up to Nu.5 million.
 3 : The limits apply to all the Loans.
 4 : Rate and Method of Computation of Interest.
             – The rate of interest shall be 11% per annum computed at the end of each quarter using the Daily Product Method.
 5 : Tenure & Repayment term.
             – The maximum term of repayment shall be 20 years.

 6 : Security
       The primary security against the loan shall be the Land/house/apartment that is financed by the loan, and the members Provident Fund balance shall be the secondary security.