Buying a car is a big decision. It gives you independence, comfort, and an easy life. But it is difficult to deposit the whole amount at one time. Therefore, there is an easy and fair car loan in Nepal offered by Global IME Bank to ease your car buying process.
Here, you will learn about car loan interest rates, EMI, eligibility, documents needed, and solutions to many queries.
Why Global IME Bank provides the best Car Loan in Nepal?
Global IME Bank is one of the leading banks of Nepal. Here’s why we are customers’ top choice for a car loan:
- Competitive car loan interest rates
- The loan can be repaid in period of 7 years
- The bank offers a maximum of 50% of the car cost for fuel vehicles and 60% for electric cars
- Quick loan approval
- Personalized help from Relationship Managers
- Branches in every one of Nepal’s 77 districts
- You can use an Auto Loan to finance new or used vehicles(fuel based/electric), commercial or personal vehicles.
Whether you buy a fuel car or an electric car, we make it easier for you to be the car owner.
What is the Car Loan Interest Rate in Nepal?
Car finance interest rates are different in banks. At Global IME Bank ( under Green Drive Scheme), you get:
- 8.25% interest for borrowing up to 5 years
- 8.49% interest for your borrow up to 7 years
You may also request fixed rate while submitting an application.
How to Know Your EMI?
EMI is the amount of money paid every month to pay back the loan.
To calculate your EMI, use our Car Loan EMI Calculator. It is as simple as entering the loan amount, interest rate, and how many years you want to repay. It will show you your monthly payment in seconds. It helps to plan your finances.
Who Can Apply for a Car Loan?
You can apply for a car loan if:
- You are a Nepali citizen and above 21 years old
- You possess business or employment that earns you adequate income
- You are a company (Pvt. Ltd., Public Ltd., Partnership, or Proprietorship) using the vehicle for commercial or personal purpose
What Documents Do You Need?
This is what you need for car loan in Nepal:
For Identity:
- Citizenship certificate
- Passport-sized photographs
- Marriage/relationship certificate (if needed)
- PAN/VAT certificate (if it’s for a company)
- Map of your home and office address
For Income:
- Salary slip and ID card (if working)
- Bank statements (at least 6 months)
- Pension papers (if retired)
- Rental or business income papers
- Income from car or foreign employment (with evidence)
For Vehicle:
- Car quote or VAT invoice
- Vehicle valuation (in case of refinancing)
- Insurance information
Frequently Asked Questions (FAQs)
Is auto loan a good option?
Yes. Auto loan helps you to buy a vehicle without paying the total price at once. You can pay in installments every month.
What is the auto loan rate in Nepal?
Interest rates in Nepal are 8% to 13%. Global IME Bank offers auto loan at the lowest rates.
Which bank is best for auto loan in Nepal?
Global IME Bank is one of the best for auto loan in Nepal because it offers low rates, long term, and large network.
What is the minimum salary for a 2 lakh loan?
You need at least Rs. 25,000–30,000 a month of income. But the bank checks if your income is enough to repay the loan.
How can I get a 3 lakh or a 4 lakh car loan?
Visit Global IME Bank with your income proof and car details. The bank will check your documents and give you the loan if you qualify.
What is the best app for 2 lakh loan?
You need to properly check loan apps as all may not be secure. It’s better to approach through Global IME Bank’s own mobile app or drop by at your bank’s local branch.
What is the lowest salary for car loan?
There is no any fixed lowest salary for car loan. But your salary must be enough to provide the EMI per month.
How to calculate car loan EMI?
Use the EMI Calculator on the website of Global IME Bank. It is free and easy to use.
Which car has the smallest installment?
Low monthly installments are available for small cars and electric cars.
Which bank is good for car installments?
Global IME Bank offers a transparent and easy car loan with monthly payment options.
Can I repay my car monthly?
Yes. You can take a loan and repay monthly through EMI for a maximum of 7 years.
How is a car loan EMI calculated?
It depends on your loan amount, interest rate, and years of tenure. Use the calculator to calculate your EMI.
What is the tenure of car loan?
You can take a loan from 1 to 7 years, depending on what works best for you.
If you’re planning to buy a new car, now is the right time. Global IME Bank is here to help with low interest, easy paperwork, and quick approval.
Ready to Apply an Auto Loan in Nepal?
Contact Global IME’s help desk today:
You can also visit any Global IME Bank branch near you.
