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Fund Based Facility against LCY Fixed Deposit of BOK

For providing credit facility on regular & revolving basis against LCY Fixed Deposit of BOK.

Eligibility

  • Applicant should be the owner of LCY Fixed Deposit (FD) maintained with the bank.
  • Applicant should not have credit lines availed from any lending business unit of the bank.
  • Applicant shall be either of the following :
    • Individual or joint
    • Firm/Company

Loan Amount

  • Loan amount should be ≤ 90% of the face value of FD.
  • Loan amount ≤ NPR 200K should be allowed as Demand Loan only.
  • Loan amount > NPR 200K may be allowed as overdraft or demand loan as per request of the applicant.

Tenure

Credit facility shall be valid up to one year or the maturity date of FD, whichever is lower.

Repayment

Regular and revolving basis. Interest payment due date shall be on every quarter end as per the Nepali Calendar.

Basic Documentation

  • In case of Individual:
    • Loan Application.
    • Citizenship/recent photograph of the applicant.
    • Diagrammatic location of the applicant’s residence.
  • In case of Firm/Company:
    • Loan Application.
    • Citizenship/recent photographs of proprietor/partner/directors/authorized person.
    • Renewed Firm/Company registration certificate.
    • PAN/latest tax paid receipt.
    • Diagrammatic location of the proprietor/partner/director/authorized person’s residence.
    • Board minute to avail credit facility against deposit held with the bank, where applicable.
    • MOA/AOA permitting availing credit facility from bank, where applicable.
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