30th November 2022, Kathmandu
Nabil Bank has agreed to provide up to 80 percent loans to buy Hyundai’s electric vehicles, Ionic-5 and Kona.
A memorandum of understanding has been signed between Nabil Bank and Lakshmi Intercontinental to provide vehicle loans at subsidized interest rates.
Sujith Kumar Shakya, Deputy Chief Executive Officer of the bank, and Indra Prasad Sapkota, General Manager of Lakshmi Intercontinental, signed the MoU.
Now customers who wish to buy Hyundai EVs will quickly get up to 80 percent loan from this bank. According to the agreement, the bank will provide easy loans for purchasing Hyundai brand electric vehicles sold by Lakshmi Intercontinental and the company’s official dealers.
In the same way, a 50 percent loan will be given to individuals and a 70 percent loan to companies to purchase vehicles running on petroleum products.
Nabil Bank has set an interest rate of 12.99 percent for customers willing to take loans. The new facility has also allowed customers to get the loan in three working days after completing all the paperwork. As per the agreement, the term of the loan obtained in this way will be seven years.
The bank said it would give up to 80 percent of the loan to individuals and 70 percent to companies to purchase electric vehicles.
According to the bank, this facility will be available from all branches of Nabil Bank.