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Global Auto Loan [Back]

!! 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. !!

Purpose
  • Purchase of New Vehicle
  • Purchase of loan from other Bank/ Financial Institutions
  • Financing on used vehicles
Features and Benefits
  • Competitive Premium rate
  • Flexible Repayment Schedule: Monthly (EMI) or quarterly (EQI) basis.
  • Fast approval process
  • Prompt services
  • Facility available in all branches
  • Flexible tenor: Up to 7 years
  • Financing up to 50% of vehicle price (80% incase of electric vehicle) 
  • Counseling to help better financing by our Relationship Managers throughout the process

Eligibility
  • Individual - Nepalese Citizen above 21 years. Salaried individual, self-employed persons, 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/commercial use.
  • Sufficient income source to repay at the satisfaction of the Bank.
  • Any person other than owner/authorized person/executive of the firm/company shall not authorize to avail by auto loan on behalf of the firm/company.
  • Purchase of loan is subject to the satisfactory debt servicing to other Banks/FIs.
  • EMI/ EQI: 80% of uncommitted (disposable) income

Documents required
         Identification
  • 2 Passport size photo of applicant
  • Photocopy of citizenship certificate/passport of Applicant & guarantor
  • Photo of vehicle to be obtained before implementation of loan
  • Photocopy of Tax/PAN/VAT certificate along with registration certificate
  • Photocopy of Article of Association and Memorandum of Association
  • Photocopy of Land ownership certificate if required
  • Residence/business visit report
 
        Proof of Income
  • Salary Certificate
  • Photocopy of contract agreement between applicant and his/her employer
  • Photocopy of Rent Contract if any
  • Photocopy of audited Financial Statements in case Firm /Company’s income is considered
  • Self-declared of income
  • Others if any
        Vehicle Related Documents
  • Quotation of vehicles
  • VAT bill of the vehicle
Others
  • Loan application firm duly filled and signed in standard format of the Bank
  • Name of the family members
  • Current account of the applicant / borrower
  • In case of purchase of loan, loan statement from other banks and financial institution
  • Net worth declarations if required
  • Multiple banking declaration
  • Other documents stipulated by the Banks from time to time

 

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