Nabil Bank

Auto Finance

We are committed to provide finance for purchase of your vehicles - be it for personal or commercial purpose. Please step into one of our branches and ride home in your new car. The following are the features of auto finance scheme.

 

S.No.	Products	Loan Amount	Loan Tenor
1	Private	3 lakh to 60 lakh	maximum upto 6 years
2	Commercial	3 lakh to 50 lakh	maximum upto 5 years
3	Used	3 lakh to 20 lakh	maximum 4 years and age of the vehicle should not exceed maximum 7 years at the time of loan maturity
4	Refinancing	3 lakh to 50 lakh	maximum 4 years and age of the vehicle should not exceed maximum 7 years at the time of loan maturity

 

Interest Rate

As published by the Bank in media time to time

 

Pricing and Features

• Processing fee
  1.25% of the loan amount payable upfront
• Prepayment:
  1% of amount partial/prepaid after one year & 2% of loan outstanding in case of loan take over or settled before servicing of 12 installments.
• Commitment Charge
  0.25% of limit unused
• Valuation charge (for used vehicles)
  On actual cost basis
• Financing Ratio
  Not more than 70% of the Invoice (VAT Bill)
• Age Criteria
  from 21 years to 65 years at loan maturity
• Insurance of the vehicle for full value with comprehensive risk coverage including third party insurance.
• Penal charge
  2% of total loan outstanding for the defaulted period.
• CIC Charge
  NPR 250/- per page/on actual basis.
• Registration and/or vehicle tax
  On actual basis based on vehicle's age and made (viz. CC)

 

Required documents

 

1. ID related documents	3. Income source related documents
Citizenship and/or Passport Bank account statement Photograpsh Firm/company Registration (if any) PAN (if any) Article & Memorandum of Association (if any) Partnership deed (if any) Land Ownership Certificate if/any of residense	Salary certificate Rental agreement (if any) with an identification of tenant P/L account and Balance Sheet for 2 fiscal years (if business income) Copy of blue book of vehicle (if income from commercial vehicle) Copy of Agreement (if consultancy income) Board Resolution to borrow

 

Notes:

• In case of Commercial Vehicle, two years experience is mandatory.
• In case of unregistered transport operator, Blue Book substantiating borrower's two years experience in commercial vehicle operations is mandatory
• Income from foreign employment can also be considerd subject to submission of relevant documents viz. valid passport/visa, work permit, salary certificate from the employer, recent pay slip/bank account statement etc

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