Foreign Employment Loan
Foreign Employment Loan
Loans provided to members or their immediate family
members for the purpose of seeking employment abroad (only after obtaining a
labor permit and visa) are referred to as Foreign Employment Loans. This
type of loan will only be granted based on the expenses related to the visa
process and ticket costs for the country where the employment will take place.
The maximum limit for this loan is up to NPR 1.5 million.
1.
Loan Tenure:
The
maximum tenure for this loan will be up to 3 years.
2.
Grace Period:
A grace
period of up to 3 months can be provided for this type of loan. However, during
the grace period, interest must be paid according to the installment schedule.
3.
Repayment Method:
The loan
must be repaid in mandatory monthly or quarterly installments.