!! Our Auto Loan with its all-inclusive features is the ultimate solution to your financing requirements. With its simple documentation process coupled with our speed of delivery and flexibility, you can drive your vehicle today itself- be it brand new or used. !!
- Purchase of New Vehicle
- Swapping loan from other Bank/ Financial Institutions
- Financing on used vehicles as the case may be depending upon the analysis of repayment capacity of the borrower.
Features and Benefits
- Competitive Interest rate: 8.5% to 12% p.a.
- Flexible Repayment Schedule: Monthly (EMI) or quarterly (EQI) basis.
- Quick turnover time: Approving status within 36-48 hours upon completion of all required documents
- Flexible tenor: Up to 7 years
- Financing up to 80% of quotation price.
- Counseling to help better financing by our Relationship Managers throughout the process
- Loan processing fee: 1.50 % of the loan amount
- Prepayment charge: 1.00 % of the prepaid amount if pre payment is made within 1 year of initial disbursement
- Individual – Nepalese Citizen above 21 years, Salaried Individuals in permanent service with any credible organization.
- Self employed Individuals, Company/ firm having sufficient income and cash flow to serve debt.
- Company (Pvt. / Public)/ Proprietorship/ Partnership (duly registered with the concerned government authority) proposing to use vehicle for personal/ private use.
- Swapping of the loan is subjected to the satisfactory debt servicing to other Banks/ FIs.
- Maximum loan amount up to NPR 10.00 Mio.
- EMI/ EQI: 50% of gross income
- EMI/ EQI: 80% of uncommitted (disposable) income
- 2 Passport size photos of applicant.
- Photocopy of citizen ship certificate/ passport of Applicant and Guarantor
- Photocopy of Tax/ PAN/ VAT certificate along with registration certificate
- Photocopy of Article of Association and Memorandum of Association
- Photocopy of Land ownership certificate
Proof of income
- Salary Certificate
- Photocopy of contract agreement between applicant and his/ her employer
- Photocopy of Rent Contract if any
- Photocopy of audited/ management prepared Financial Statements (Past 3 years)
- Others if any
Vehicle related documents
- Quotation of vehicles
- VAT bill of the vehicle
- Loan application firm duly filled and signed in standard format of the bank
- Name of the family members
- Current account of the applicant/ borrower
- Incase of swapping loan, loan statement from other banks and financial institution
- Net worth declarations
- Other documents stipulated by the Banks from time to time
Download Auto Loan Application form »
Refer to your nearest branches.