First Business News Portal in English from Nepal
KATHMANDU: Planning to purchase a car on an installment plan? Global IME Bank has unveiled an attractive offer with a fixed interest rate of 10.99 percent for loans on fuel vehicles, with no interest rate increase for seven years. The bank is also extending loans for electric vehicles at a slightly lower interest rate of 10.49 percent.
The loan term is set at seven years, and the bank assures borrowers that the interest rate will remain constant throughout this period. Prospective applicants can visit any of the bank’s branches or conveniently apply online through the bank’s official website.
Eligibility criteria for Nepali citizens include being between 21 and 70 years old, possessing a stable source of income, and maintaining a positive credit history. Loan amounts will be determined based on the assessed value of the vehicle, with electronic vehicle loans covering up to 80 percent of the appraisal.
For fuel vehicles, a 50 percent down payment is required, making this an accessible option for individuals meeting the specified criteria and looking for favorable terms to finance their vehicle purchase.
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