The interest rates on these loans vary depending on the type of vehicle, loan duration, and whether the loan is for personal use or commercial purposes. Notably, loans for electric vehicles are generally offered at lower interest rates compared to traditional vehicles.

Laxmi Sunrise Bank offers car loans with interest rates ranging from 8.99% to 11.99% for up to 15 years. The bank’s base rate is 8.70%, with a premium of 1% to 3% added to the base rate for auto loans.

Nabil Bank has a base rate of 7.63% as of July. Personal car loans come with a premium of 2% to 4%, while commercial loans carry a premium of 3% to 4%. Loans for electric vehicles have a slightly lower premium, ranging from 1% to 3%.

Machhapuchhre Bank offers auto loans with interest rates between 10% and 11% for fixed periods of up to 10 years. The bank’s base rate is 8.13%, with a premium of 0.50% to 2.50% for personal loans and up to 4% for commercial loans.

Global IME Bank charges 10.49% to 11.49% interest for car loans up to 5 years and 11.99% to 12.99% for longer terms. The base rate is 8.09%, with a 3.50% premium added for auto loans.

Kumari Bank offers car loans with a maximum interest rate of 12.39%. The base rate is 8.89%, with a premium of 1% to 3% for personal auto loans and 2.50% to 3.50% for commercial loans.

Prabhu Bank and Himalayan Bank provide car loans with interest rates of 9.50% to 11.50%, while Nepal Investment Mega Bank and Sanima Bank have competitive rates with base premiums for personal and commercial loans.

For those considering electric vehicles, National Commercial Bank offers a special rate of 7.77% under a festive scheme valid until October.

Interest Rates from Leading Banks in Nepal