!! GIBL Hire Purchase loan enables you to purchase commercial vehicles such as heavy and light commercial vehicles especially truck, bus, microbus excavator etc.!!
- Purchase of new vehicles
- Swapping Loan from other Bank or financial institutions
Features and Benefits
- Competitive Interest Rates for both private and commercial vehicle: 10% to 14% 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 5 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.
- 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 citizenship 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 Hire Purchase Loan Application form »
Refer to your nearest branches.