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Citizens Auto Loan

Citizens Auto Loan

The Bank provides loan to the customers buying a new vehicle or used vehicle or those who want to refinance the current auto loan on both the private and commercial sector. The Bank offers attractive rates, favorable terms and conditions. This product is also aimed to cater to the needs of the corporate entities. The Bank provides full or partial finance for a business vehicle.

Purpose:

Financing to purchase of new/used Private and Commercial Vehicles to individuals and business concern.

Nature:Maximum up to NPR 4.00 Million for used vehicles Loan Size: Up to NPR 7.00 Million for new vehicles Nature: Terminating loan payable in Equal Monthly Installment
Loan Size:

Up to NPR 7.00 Million for new vehicles

Maximum up to NPR 4.00 Million for used vehicles

Tenure:Maximum up to 6 years for private vehicles

Tenure: Maximum up to 5 years for commercial vehicles

Rate of interests:Premium of 1.00% to - 7.00% p.a. over the Base Rate

Eligibility Criteria:

  • All salaried or self-employed Nepalese Citizen having a regular source of income.
  • The applicant must be at least 18 years and should not exceed 65 years at the time of maturity.
  • In case of individual having business income or firm/company, the business should be in profitable operation since last two years.
  • Unregistered transport operators should have experience of operating a commercial vehicle for a minimum of two years.