NIMB is Offering Auto Loan to Turn Your Dreams into a Drive!
24th November 2025, Kathmandu
Nepal Investment Mega Bank (NIMB) is offering its attractive Auto Loan and Hire Purchase Loan schemes, marketed under the tagline “Turn Your Dreams into a Drive!”
NIMB Auto Loan
The offer provides a comprehensive financial solution for acquiring a vehicle, featuring competitive interest rates, streamlined processing, and flexible repayment options. This special promotional scheme is valid until the end of Mangsir 2082.
Key Financial Features and Pricing
NIMB is committed to making vehicle ownership accessible with affordable pricing and convenient payment structures. Customers can easily estimate their debt obligations using the NIMB Auto Loan EMI calculator available online.
Loan Types Offered: The facility is primarily offered through two structures: the Auto Loan and the Hire Purchase Loan.
Loan Amount and Disbursement:
Auto Loan: The minimum loan amount is NPR 1 million, with a maximum limit of NPR 25 million. Disbursement is capped at 50 percent of the pro-forma invoice.
Hire Purchase Loan: The minimum amount is NPR 1 million, with a maximum of NPR 20 million. Disbursement is more aggressive, limited to 80 percent of the pro-forma invoice.
Electric Vehicles (EVs): Loans for the purchase of EVs benefit from a slightly higher disbursement limit, up to 60 percent of the pro-forma invoice, which aligns with the national goal of promoting sustainable transportation.
Pricing Structure: Interest rates are determined by the bank’s Base Rate plus a Premium (which can be fixed or floating). As of Mangsir 1, 2082 (November 17, 2025), NIMB’s applicable base rate is 5.51 percent (the average for the preceding three months: Shrawan, Bhadra, and Ashwin 2082). The final rate will be the Base Rate plus the applicable premium.
Charges: All applicable charges are levied as per the bank’s Standard Tariff. A significant benefit is that prepayment is free if the loan amount is NPR 5 million or less.
Eligibility and Repayment Requirements
The loan is broadly available to various segments of the Nepali population and business community, provided they meet clear repayment criteria.
Who Can Apply: The loan is designed for a diverse customer base, including all Nepali citizens, firms, and companies. Eligible applicants include salaried individuals, self-employed professionals, business owners, employees of NGOs/INGOs, and corporate executives. The loan is also specifically tailored for firms, companies, or individuals who are purchasing a vehicle for business or income generation.
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Individual Repayment Capacity: For individuals, the total Equated Monthly Installment (EMI) should not exceed 50 percent of their gross monthly or quarterly income.
Business Repayment Capacity: Businesses and firms must demonstrate a Debt Service Coverage Ratio (DSCR) of at least 1.1 times, ensuring sufficient cash flow to cover debt obligations.
Loan Tenure and Security Requirements
The tenure varies based on the type of loan, the vehicle’s condition (new or used), and the loan amount. Repayments can be made in flexible monthly or quarterly installments.
Auto Loan Tenure: The maximum tenure for Brand New Vehicles is 10 years, with a preferred tenure of up to 5 years. For Used Vehicles, the maximum tenure is 5 years, with the constraint that the vehicle must not be older than 10 years at loan maturity.
- For loans between NPR 1 million and NPR 5 million, the tenure is up to 5 years.
- For loans between NPR 5 million and NPR 10 million, the tenure is up to 7 years.
- For loans above NPR 10 million, the maximum tenure is up to 10 years.
Hire Purchase Loan Tenure (Natural Person): Minimum tenure is 1 year. The preferred maximum for a Brand New Vehicle is 5 years, with an absolute maximum of 10 years. For a Used Vehicle, the maximum is 5 years, and the vehicle must not be older than 7 years at loan maturity.
Hire Purchase Loan Tenure (Firms/Companies): Minimum tenure is 1 year. The maximum tenure is 7 years for both brand new and used vehicles, with the used vehicle not exceeding 7 years of age at loan maturity.
Security Requirements: The vehicle must be registered in the bank’s name. Hire Purchase loans require additional 100 percent collateral coverage. Additionally, both the vehicle and the collateral must be insured in the bank’s favor. Supplementary documents required include a Promissory Note, Set-Off Letter, NOC of legal heirs, and the Hire Purchase deed.
Comprehensive Documentation Checklist
To apply, applicants must prepare a thorough set of documents to verify identity, income, and security.
General Documents: Include the completed loan application form, copies of the Citizenship certificate and PAN card, KYC form, CIC report, AML/CFT documents, and the net worth certificate. Companies also require audited financials and a board decision.
Income Proof: Examples of acceptable income proof include salary certificates and contracts, TDS receipts, salary or pension bank statements, rental agreements with tax receipts, business audited accounts, and proof of remittance (minimum four legal channel transfers) for those with foreign employment income, requiring a valid visa and job contract.
Vehicle and Collateral Documents: Include the vehicle invoice or quotation, blue book copy (for used vehicles), valuation report (if applicable), and all relevant ownership and legal documents for any land or building collateral (mortgage).
Nepal Investment Mega Bank invites eligible applicants to apply today to drive home their dream vehicle with this reliable and affordable loan solution.
For More: NIMB Auto Loan
