This loan is provided for:
Contact: Any branches of NBL.
The criterion for taking auto-loans is as follows.
- Purchase of new vehicles
- Purchase of old / used vehicles (For Private use only)
- The loan is provided to Nepalese Citizens only.
- This loan shall be provided other than insider.
- The loan is provided to any salaried and self-employed individuals and companies having regular and stable source of income.
- The company / firm should be registered to the government authority.
- All borrowers and guarantors should not be enlisted in Black List of NRB.
- In case of individuals, the borrower must be at least 21 years and should not exceed 60 years at the time of maturity. The retirement age must be more than the tenure of the loan.
- Work experience is needed for salaried individuals.
- The company / firm should be in operation since last two years.
- The person taking loan for the company / firm is to be authorized by the company / firm as appropriate.
1% of the financed amount shall be charged upfront at the time of submission of loan application with necessary documents. The fee shall be refunded if the loan is not approved.
2% prepayment charge on the prepaid amount if prepayment is made within 1/3 of loan period. However, no prepayment fee will be charged if paid after maturity of 1/3 of the loan period.
No prepayment charge shall be charged for loan below 50 Lakhs.
- All companies are required to submit their board resolution authorizing to execute loan/security documents with the bank to avail credit facility.
- Corporate guarantee should be supported by resolution of Board of Directors.
- Original certificates should be presented for verification while submitting this form.
- Salary certificate must be in the office's letterhead having seal and must contain net salary, your designation, years of service, date of retirement or expiry of contract and type of employment (permanent or contract). It should be signed along with the name and designation of the signatory.
- The bank can demand any additional documents at its own discretion.
- Payment shall be made through account payee cheque in the name of dealer.
- Valuation expenses shall be borne by borrower self.