!! GIBL IME Hire Purchase loan enables you to purchase commercial vehicles such as heavy and light commercial vehicles especially truck, bus, microbus excavator etc.!!
Purpose
Purchase of new vehicles
Purchase of Loan from other Bank or financial institutions
Financing of used vehicle
Features and Benefits
Competitive premium Rates for both private and commercial vehicle
Flexible Repayment Schedule: Monthly (EMI) or quarterly (EQI) basis.
Fast approval process
Prompt services
Facility available in all branches
Provision to provide grace period op to six months
Flexible tenor: Up to 5 years
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 use.
Sufficient income source to repay at the satisfaction of the Bank.
Purchase of loan is subject to the satisfactory debt servicing to other Banks/FIs
EMI/ EQI: 50% of gross income
EMI/ EQI: 80% of uncommitted (disposable) income
Documents Required
Identification
2 Passport size photo of applicant
Photocopy of citizenship certificate/passport of Applicant & guarantor
Photocopy of valid driving license (optional)
Photocopy of Tax/PAN/VAT certificate along with registration certificate
Photocopy of Article of Association and Memorandum of Association
Photocopy of Land ownership certificate
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 chassis/vehicles from the dealer and from the body builder if body needs to build up