What is meant by an auto loan and how does it work in Nepal?

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. 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.

What is an auto loan payment and how do I calculate it?

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.

Which bank is best for auto loans in Nepal?

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.

How much is the down payment for a car loan in Nepal?

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.

What are the features and benefits of Global IME Bank’s auto loan?

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.

Auto Loan: Drive your own car with easy EMI & Low Interest Rate

Overview

Owning a vehicle is not just a necessity but also a significant investment. With competitive rates, flexible terms and a streamlined application process, we are here to help you turn your vehicle ownership goals into reality, whether you are buying new car or refinancing, our auto loan is here to help you achieve your dream.

Purpose of loan	Loan Terms	Financing Term
For New fuel-based vehicle (private)	UpTo 7 years	50% of the quoted price/VAT bill.
For New electric vehicle (private)	UpTo 7 years	60% of the quoted price/VAT bill.

Ready to own your dream car? Calculate your EMI.

Features

Competitive interest rate

Fast approval process.

Branches available nationwide, spanning across all 77 districts

Flexible tenure (upto 7 years)

Financing up to 50% of vehicle price

Counseling to help better financing by our Relationship Managers throughout the process.

Eligiblity for Car Loan

Nepalese Citizen above 21
Company (Pvt./Public)/Proprietorship/Partnership (duly registered with the concerned government authority) proposing to use vehicle for personal/private/commercial use.
Sufficient income and cash flow to serve debt.

Auto Loan Interest Rates

Interest rate for auto loan for up to 5 Years - Base rate + up to 3.50%.
The bank also offer fixed Interest for auto loan. Click here for interest rates

Fees & Charges

Click here for fees & Charges

Required Documents

Frequently Asked Questions

What is an Auto Loan ?

What types of vehicles can I finance with an Auto Loan?

What is the maximum loan amount I can get?

What is the loan repayment period?

Who is eligible to apply for an Auto Loan?

Can I use the loan for a second-hand vehicle?

What is the maximum age of a used vehicle I can finance?

Global Auto Loan - Green Drive Scheme

Reviews

Free Credit Card issuance fee for first year
Free mobile/internet banking for first year
Competitive interest rate:
8.25% for loan upto 5 years
8.49% for loan upto 7 years

Customer Support / Call Centre

We're here to help. For any questions or support, please call our customer care centre - Global Connect.

Auto Loan

Drive Your Dream Car, With our Auto Loan !