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Auto Loan

With the aim to enhance your automobile experience, we have brought Auto Loan scheme with varieties of financing options with simple process and minimum turnaround time. You just need to step inside to make your dreams come true. Information that you need to know to make your decision is mentioned below.


 

Product Purchase Options

  • New private vehicle
  • Used private vehicle
  • New commercial vehicle


 

Financing option

  • Maximum up to 70 lakhs for new private vehicle or 90% of Invoice value whichever is lower
  • Maximum up to 50 lakhs for commercial vehicle or 80% of Invoice value whichever is lower
  • Maximum up to 30 lakhs for used private vehicle or 70% of the valuation amount whichever is lower


 

Interest Rate/Other Fees

  • Interest: As determined by the bank. Current rate: 15 - 17 % p.a.
  • Fees : 1% Processing fee


 

Tenor/Maturity

  • Maximum 96 months for new private vehicles
  • Maximum 60 months for used vehicles and commercial vehicles


 

Documents Required

  • Copy of Citizenship (mandatory for Nepalese) or Passport (for foreigners) - Applicable for all
  • PP size photograph (applicable for all)
  • Copy of quotation of the vehicle for new vehicle
  • At least one valuation report from Bank's approved automobile valuators for used private vehicle
  • Salary Certificate for salaried employees
  • Certified Statement of Income for self-employed professionals
  • Contracts/ Agreements for individuals with fixed Income Sources such as lease agreements
  • Registration document at the concerned Nepal Government Office and Tax Office for firms/companies
  • Memorandum of Articles and Association (For Private Limited Companies )
  • Partnership deed (for Partnership firm)
  • Board Resolution (For Private Limited and Institutions)