NIMB Personal Loan Nepal: Get Flexible, Affordable Funding for Salaried, Self-Employed, & NRNs
31st May 2025, Kathmandu
When unexpected expenses arise, having quick access to funds can ease stress and keep your plans on track. NIMB Personal Loan offers flexible, affordable, and easy-to-apply loan options tailored to meet individual financial needs in Nepal. Whether you are a salaried professional, an entrepreneur, or an NRN, this loan can help cover personal obligations, medical costs, home renovation, or even educational expenses.
Who Can Apply For The NIMB Personal Loan Nepal?
NIMB’s loan targets a diverse audience. It is designed for:
Salaried individuals working in private companies, government offices, or NGOs.
Self-employed professionals like doctors, lawyers, and consultants.
Entrepreneurs and business owners who need quick capital for personal or business needs.
Executives and staff working in INGOs, NGOs, and large corporate organizations.
Non-Resident Nepalis (NRNs) who remit income legally through banking channels.
Applicants must be at least 25 years old at the time of application, and not exceed 70 years at the loan maturity date. For joint borrowers, at least one must meet this age criterion. This eligibility widens access for many Nepali citizens and expatriates.
Types of Personal Loans Offered by NIMB
NIMB offers two main categories of personal loans to meet both short-term and long-term financial requirements:
Personal Mortgage Loan (Long-Term)
This loan is secured by a property mortgage and is designed for long-term needs up to 20 years. It suits customers planning for significant expenses like home renovation, higher education, or asset acquisition. Key details include:
Loan tenure up to 20 years (including grace period).
Repayment via fixed or floating Equated Monthly Installments (EMI).
Loan amount ranges from NPR 0.5 million to NPR 250 million.
Maximum Loan-to-Value (LTV) ratio up to 50% of the property’s Fair Market Value (FMV).
Moratorium period of up to one year, during which only interest payments are required.
Personal Overdraft Loan (Short-Term)
This is a revolving credit facility that borrowers can use for up to one year. It works like a credit line that can be drawn and repaid multiple times within the tenure. Features include:
Short tenure of 12 months on a revolving basis.
Interest is paid quarterly based on the utilized amount.
Loan limit between NPR 0.5 million and NPR 5 million.
Also secured with mortgaged property.
Allows flexible management of short-term cash flow needs.
Key Features Of NIMB Personal Loan
NIMB personal loans are popular due to several attractive features:
Wide eligibility including NRNs and joint borrowers.
Flexible tenure options ranging from 1 year to 30 years, depending on loan type.
Affordable interest rates are calculated daily on the outstanding balance using a base rate plus a premium.
Grace period of up to one year, helping borrowers manage repayments during the tough initial months.
Loan amount flexibility catering to small and large financial needs.
The debt burden ratio limit ensures total repayments do not exceed 50% of gross monthly income.
Easy loan processing through online and offline channels.
Transparent charges with clear prepayment policies.
A loan security backed by a property mortgage ensures better loan terms.
Uses Of NIMB Personal Loan
The flexibility of the NIMB Personal Loan allows borrowers to use funds for a variety of needs, such as:
Paying medical bills for family emergencies.
Home repairs or renovations to improve living conditions.
Covering educational expenses like tuition fees for higher studies.
Managing travel costs for personal or business reasons.
Funding business expansion or investing in new assets.
Purchasing vehicles or other valuable property.
Meeting urgent social obligations or debt repayments.
Application Process for NIMB Personal Loan
Applying for the NIMB Personal Loan is straightforward:
Submit your application online or visit a NIMB branch.
Provide necessary documents, including proof of income, identity, and property ownership.
The bank conducts a credit assessment, evaluating credit history and repayment capacity.
For NRNs, proof of remittance through official banking channels is required.
Loan approval and disbursement typically happen quickly after document verification.
Important Documents Needed
To ensure smooth processing, prepare the following documents:
Identity and Verification
Citizenship certificate.
PAN certificate for loans above NPR 2.5 million.
KYC documents.
Income Proofs
Salary slips or employment contracts.
Bank statements showing salary or business income.
Tax receipts and audited financial reports for business owners.
Rental agreements with tax receipts if the income is rental-based.
Remittance proof for NRNs.
Property Documents (For Mortgage Loans)
Ownership deeds and tax payment receipts.
Land survey and cadastral maps.
Building completion certificates and approved architectural drawings.
Property valuation reports from bank-approved valuators.
Security Documents
Mortgage deed and legal agreements.
Personal guarantees from borrowers.
No objection certificates from legal heirs (if applicable).
Insurance policies for mortgaged assets.
Other legal documents, as requested by the bank.
Loan Repayment And EMI Calculation
Borrowers can estimate their monthly repayments using NIMB’s EMI calculator available on the bank’s website. Key repayment terms:
EMI payments are due on the 1st or 20th of each month for mortgaged loans.
Quarterly interest payments for overdraft loans.
Prepayment allowed with charges only applicable for loans above NPR 5 million.
Maintaining repayment within 50% of monthly income helps avoid financial strain.
Timely payments protect your credit score and avoid penalties.
Benefits Of Choosing NIMB Personal Loan
Fast loan processing with minimal paperwork.
Competitive interest rates tailored for different customer profiles.
Flexible tenure options are suited for both short-term and long-term needs.
Wide customer eligibility, including NRNs and self-employed individuals.
Clear terms and conditions with no hidden fees.
Collateral-backed loans allow higher loan limits and lower risk.
The online application facility makes the process convenient.
Conclusion
NIMB Personal Loan is a reliable choice for individuals in Nepal who need quick, affordable financing for personal expenses. With its flexible options, competitive rates, and wide eligibility, this loan helps customers manage financial emergencies and long-term plans effectively. Before applying, borrowers should assess their repayment capacity and gather the necessary documents to ensure a smooth process. Overall, NIMB’s loan supports Nepalese in achieving their financial goals with confidence.
For more: NIMB Personal Loan Nepal
