Question 1

What is an Auto Loan?

Accepted Answer

An Auto Loan, often referred to as a **Car Loan**, helps you finance the purchase of a new or used vehicle, or even refinance an existing auto loan. With competitive interest rates, flexible repayment terms, and a simple application process, our Auto Loan is designed to make your dream car more accessible.

Question 2

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

Accepted Answer

You can use an Auto Loan to finance: New or used fuel-based vehicles. New or used electric vehicles. Commercial or personal vehicles.

Question 3

What is the maximum loan amount I can get?

Accepted Answer

For fuel-based vehicles, the loan amount is typically up to 50% of the quoted price/VAT bill. For electric vehicles, you can get up to 60% of the quoted price/VAT bill.

Question 4

What is the loan repayment period?

Accepted Answer

The loan repayment period can range from 1 to 7 years, depending on the terms of the loan agreement and your preferences.

Question 5

Who is eligible to apply for an Auto Loan?

Accepted Answer

Individual Applicants: Nepalese citizens above 21 years of age with a stable income to meet debt obligations. Businesses: Private/Public companies, proprietorships, and partnerships that are registered with the relevant government authorities and intend to use the vehicle for personal/private or commercial use.

Question 6

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

Accepted Answer

Yes, loans for used vehicles (up to 3 years old) are available. The loan amount will typically be 50% of the market value for individuals and up to 70% for legal entities.

Question 7

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

Accepted Answer

The vehicle must be up to 3 years old for financing under the auto loan scheme.

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

Fixed Rate Period	Elite	Ultimate	Prime / No Score
Up to 5 years	6.99% - 8.99%	7.24% - 8.99%	7.49% - 8.99%
Up to 7 years	7.24% - 8.99%	7.49% - 8.99%	7.74% - 8.99%

Fixed Rate Period	Elite	Ultimate	Prime / No Score
Up to 5 years	7.49% - 9.49%	7.74% - 9.49%	7.99% - 9.49%
Up to 7 years	7.74% - 9.49%	7.99% - 9.49%	8.24% - 9.49%

Overview

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Features

Eligiblity for Car Loan

Auto Loan Interest Rates

Fees & Charges

Required Documents

Frequently Asked Questions

Related Products

Auto Loan

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