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Global Auto Loan

With its simple documentation process coupled with our speed of delivery and flexibility, you can drive your vehicle today itself-...

Get the Best Auto Loan in Nepal

Auto Loan from Global IME Bank is perfect for your financing requirements in Nepal with its competitive premium interest rate. Simplified approval process coupled with our EMI calculator, helps set your mind into driving your vehicle today itself - be it brand new or used. Also, driving electric vehicles has never been easier; under our Green Drive Scheme with special interest rate, you can buy your eco-friendly companion today!


In addition to our auto loan options, we also offer home loans designed to help you achieve your dream of homeownership. With affordable rates and a straightforward application process, Global IME Bank makes it easier to settle into your new home.


Learn more about our auto loan and home loan plans: purpose, EMI calculator, features, eligibility criteria, and documents needed.

Purpose

  • Purchase of New Vehicle.
  • Purchase of loan from other Bank/ Financial Institutions.
  • Financing on used vehicles.
     

 

Features

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Competitive Premium rate.
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Fast approval process.
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Facility available in all branches.
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Flexible tenor
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Financing up to 50% of vehicle price (80% incase of electric vehicle).
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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: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
  • 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.

 

FAQs

An auto loan is a sum of money borrowed from a bank or financial institution to purchase a vehicle. You repay this loan amount, along with interest, in monthly installments over a specified period, making buying a car more affordable by spreading the cost over several years. In Nepal, banks like Global IME Bank offer loans to help you buy a new or used car, with various repayment plans and competitive interest rates.
An auto loan payment, also known as an EMI (Equated Monthly Installment), is the fixed amount you pay every month to repay your auto loan. This payment includes both the principal amount and the interest. Use our auto loan EMI calculator to plan your finances. Simply enter your loan amount, interest rate, and tenure to see your monthly EMI and manage your budget effectively.
Global IME Bank is a top choice for auto loans in Nepal. We provide affordable rates, flexible EMIs, and quick approvals, ensuring a hassle-free experience. Our competitive auto loan interest rates and special interest rates for electric vehicles under our Green Drive Scheme make us stand out.
Typically, you need to pay around 20% of the vehicle's value as a down payment. For example, if your car costs NPR 20 lakhs, you would need to pay NPR 4 lakhs upfront.
Global IME Bank's auto loan offers several benefits, including competitive premium rates, a fast approval process, availability in all branches, flexible tenors, and financing up to 50% of the vehicle price (80% for electric vehicles). Additionally, we provide counseling from our Relationship Managers to help you throughout the process.

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