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Auto Loan

Auto Loan

Riding own car in your own choice has now come into true .NBL has offered Auto loan facility with variety of features and flexibility with in regulatory framework for the  purchase new brand or second hand vehicle to be used for personal/business use.

Purpose of loan Loan Terms Financing Term
Purchase of New vehicle (private) 2-7 Years Up to 50% of quotation price (for personal use vehicle)
Up to 80% of quotation price (for electric vehicle)
Purchase of New vehicle (For business use) 2-7 years Up to 65% of quotation price

Eligibility

  • Any Nepalese citizen having 18 years at the time of loan origination 
  • Individual having adequate, stable, steady and regular source of income to serve installment and interest. 
  • Borrower should be women / women entrepreneurship firm (for Nepa- laxmi auto loan)
  • Borrower should be professional (for professional auto loan)

Documents Required:

1. Identification Related 

  • Personal identification of borrower and guarantors
  • Photograph  of borrower and guarantor
  • Family details from concerned local authority.
  • Firm registration certificate (if business income)
  • PAN/VAT certificate (if business income)
  • Article of Association(AOA) and Memorandum of Association (MOA) (if required)
  • Partnership deed (if required)
  • Quotation of vehicle with details of price model, features etc.

2. Income Related 

  • Salary certificate with 6 month’s bank statement. 
  • Appointment letter.
  • Probation completion letter.
  • Rental agreement with tenant identification (if required)
  • Rental tax receipt (if rent agreement)
  • Pension Patta (if required)
  • Audited financial statement and projected financial statement of business (if business income). Likewise, projected financial statements of concerned business up to loan tenure if loan is for business use
  • Tax clearance certificate/receipt of income
  • PAN of borrower for loan Rs.50 lakh and above