Solar Karja


NMB Bank Solar Karja enables buying of solar energy system by household and commercial enterprise under consumer financing scheme available from NMB Bank. The borrower will pay a portion of the cost of the solar system/solar equipment initially and the bank finances the rest. The borrower can become the legal owner of the financed solar energy system/equipment upon full payment of all the installments.
  1. Purpose
    NMB Bank Solar Karja facilitates purchase/ installation of new solar energy system/solar accessories and equipment for private and commercial use.
     
  2. Eligibility
    • Individual
      • Nepali citizen
      • Minimum age of the applicant should be 25 years
      • Maximum age of the applicant, including tenure of the loan, should be 65 years.
      • In case of joint applicant anyone person can meet the age criteria
      • Person with regular source of income e.g. income from stable employment, self-employment, business, remittance income, and rental income. The income to be supported by valid documentary evidence.
      • Applicant must own a house in his/her  or family name.
      • Utility Bill of Nepal Electricity Authority (NEA) to be submitted alongside application for loan.
      • Annual repayment obligation not exceeding 75% of the Net Disposable Income (NDI) of the applicant or sponsor.
      • PAN of the Borrower should be obtained if the Group exposure exceeds or equal to NPR 10m
    • Organization
      • Registered with a competent authority in Nepal
      • Historical Financial Statements
      • Projected Financial Statements evidencing the debt servicing capability (only if the historical financial statement does not show repayment capacity) or (projected financials of one year evidencing debt servicing capacity).
      • Annual repayment obligation not exceeding 75% of the Free Cash Flow
  3. Loan Amount
    • Individual
      • Minimum - NPR 50,000*
      • Maximum - NPR 1,500,000
    • Organization
      • Minimum – NPR 100,000
      • Maximum NPR 5,000,000
  4. Loan to Value Ratio
    • Individual
      • Maximum 90% of the cost of the solar energy system/accessories/equipment or NPR 1.5 million whichever is lower (individual)
    • Organization
      • Maximum 90% of the cost of the solar energy system/accessories/equipment or NPR 5 million whichever is lower.
  5. Tenure
    • Individual
      • Maximum 5 years
    • Organization
      • Maximum 7 Years including moratorium period of 3 months.