Ballooning & Reverse Ballooning (Home Loan)

NMB Ballooning Housing Loan

This is a unique variant of housing loan that facilitates repayment of principal on Home Loans with a flexible approach that allows for EMI payment on part of the loan while the other part of the loan can be settled in bulk on yearly basis.

NMB Reverse Ballooning

The Reverse Ballooning loan option allows repayment of principal on Home Loans by a unique modality which allows for EMI to diminish over every 5 to 10 years as chosen and required by the customer.

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Customer Segment

1. Ballooning Housing Loan
   • Salaried individuals - Employees of organization having stable and regular income with at least one time bulk income (bonus, welfare etc.) at certain point/s in a year
2. Reverse Ballooning Housing Loan
• Salaried individuals - Self-Employed Professional/Businessmen - Borrowers able to pay higher EMI in beginning so that savings can be invested in other areas during tow EMI periods

Basic Documentation (as applicable)

1. Identification Documentation
   • Photograph and copy of citizenship of the applicant/sponsor/guarantor
   • Copy of Individual PAN certificate (where applicable)
   • Map of the applicants’/sponsor’s/guarantor’s residence
   • Net worth statement of applicant/guarantor/sponsor
   • Multiple Banking document
   • Account in NMB Bank Ltd. 
2. Income related documents
   • For salaried individuals
     • Salary certificate from the employed organization/company (Not older than 3 months).
     • Bank Statement for minimum 6 months, as applicable.
     • Latest two salary slips (if any).
     • Tax paid documents
   • For self-employed professionals
     • Certificate of registered professional.
     • Detail of income source/ profession.
     • Proof of last 3 years of continuous practice (if any).
     • Bank Statement for minimum 6 months, as applicable.
     • Tax Paid documents
• For business person
  • Latest audited financial statement as per prevailing Company/Tax Act of Nepal.
  • Bank Statement for minimum 6 months, as applicable.
  • Certificate of Incorporation (in case of organization)
  • Valid Firm/Company registration certificate.
  • MOA/AOA, Share Lagat, partnership deed (as applicable)
  • Recent tax paid receipt documents
• For other sources
  • Latest lease payment receipt or agreements, title deed of property. Future rental income will not be considered.
  • Other rental income details. If the asset generating rental income is under loan from other financial institution, the Bank must take into consideration the residual income from such asset.
  • Pension slip, interest received statement etc.
  • Bank Statement for minimum 6 months, as applicable.
  • Other verifiable income.
  • Tax paid documents

3.  Collateral related documents

• Land ownership certificate
• Blueprint/Cadastral Map / trace map
• Four boundary certificate (Char Killa)
• Land Classification Document
• Naksaa Pass, Building construction permission certificate from competent authority, construction completion certificate ( as applicable ) (in case of building available)
• Collateral transfer deed (for recently purchased property) (rajinama)
• Latest revenue receipt of land or land or/and building offered as collateral

Note: In case of Pre-approved Home Loan Collateral documentation to be obtained after approval of limit.

Key Features of NMB Ballooning Housing Loan:

• Ballooning loan option up to 40% of total loan limit
• EMI based repayment for non-ballooning portion

Key Features of NMB Reverse Ballooning:

• Diminishing repayment obligation over years during the loan tenure as per customer preference