Mega Home Loan with its attractive product features, trouble-free documentary procedures and quick loan processing, easy & flexi repayment options and competitive interest rate, ensures that your desire of owning a house is no longer a distant dream. Be it a purchase of land, building, apartment, construction / renovation / extension of house, refurbishing or purchase of home appliances, variant products under Mega Home Loan provides you a complete financial solution.
Last Updated Date: March 21, 2022
Nepal Rastra Bank issued Mega Bank its Operating License on 4th Shrawan, 2067 and it commenced banking operations from 7th Shrawan 2067. It lies under class “A” commercial bank which has achieved Nine years of operations and is on its way to realizing the aspirations of 2,396 promoters who incorporated chiefly from middle-class households spread over more than sixty three Districts of Nepal. Mega Bank has merged with Paschimanchal Development Bank and Tourism Development Bank. Banking Services of Mega Bank Limited are dedicated to the whole monetary strata of the Nepalese society from “Halo” to “Hydro”. Mega Bank Nepal Limited is currently trading in Nepal Stock Exchange with symbol MEGA. MEGA has provided a dividend return of 7.85 percent in the fiscal year 2074/75. Mega Bank Limited has appointed Nabil Investment Banking Limited as it’s share registrar. Mega Bank is dedicated to supplying financial options to not just the pinnacle middle or backside of the Pyramid.
Financing services by requiring the following documents for the appropriate individuals:
A home loan is an amount of money that an individual borrows from a bank or money lending company at a certain rate of interest to be paid with the EMI every month. The property is taken as a security by the money lending company for the Home Loan. A home mortgage is a loan given by a bank, mortgage company or other financial institution for the purchase of a residence—either a primary residence, a secondary residence, or an investment residence—in contrast to a piece of commercial or industrial property. In a home mortgage, the owner of the property (the borrower) transfers the title to the lender on the condition that the title will be transferred back to the owner once the final loan payment has been made .
To obtain a mortgage, the person seeking the loan must submit an application and information about his or her financial history to a lender, which is done to demonstrate that the borrower is capable of repaying the loan. Sometimes, borrowers look to a mortgage broker for help in choosing a lender.
The process has several steps. First, borrowers might seek to be pre-qualified. Getting pre-qualified involves supplying a bank or lender with your overall financial picture, including your debt, income, and assets. The lender reviews everything and gives you an estimate of how much you can expect to borrow. Getting preapproved is the next step. You must complete an official mortgage application to be preapproved, and you must supply the lender with all the necessary documentation to perform an extensive check on your financial background and current credit rating.
After you've found a residence you want, the final step in the process is a loan commitment, which is only issued by a bank when it has approved you as the borrower, as well as the home in question—meaning that the property is appraised at or above the sales price. When the borrower and the lender have agreed on the terms of the home mortgage, the lender puts a lien on the home as collateral for the loan. This lien gives the lender the right to take possession of the house if the borrower defaults on the repayments.
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