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
Eligibility
Documents required
Identification
Proof of Income
Purpose
- Purchase of New Vehicle
- Purchase of loan from other Bank/ Financial Institutions
- Financing on used vehicles
- 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
- 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
- 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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