- Eligibility
The borrower shall have been a member of the NPPF for a period of not less than 5 years. Every such member shall be eligible for one loan during his/her membership in the Fund.
- Sanctioning Limits
Loans up to following limits may be approved.
Up to Nu.10 million-NPPF Credit Committee
Above Nu.10 million-National Pension Board
The limits apply to all the Loans.
- Rate and Method of Computation of Interest
The rate of interest shall be 10% per annum computed at the end of each quarter using the Daily Product Method.
- Tenure & Repayment term
The maximum term of repayment shall be 20years and a grace period ranging between 6 months to 2 years depending on the size of the building under construction shall be granted.
- Security
The primary security against the loan shall be the Land/house/apartment that is financed by the loan, and the member’s Provident Fund balance shall be the secondary security.
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