Tie-Up Between NIC Asia Bank and CG Motocorp
8th August 2020, Kathmandu
Good news for four-wheeler enthusiasts! Tie up between NIC Asia Bank and CG MotoCorp has taken place recently. The two parties have signed a MoU. According to the agreement, the bank has now become the finance partner of CG MotoCorp.
The MoU was signed by Santosh Kumar Rathi, Assistant Chief Executive Officer of the Bank and Siraj Pant, General Manager (Sales and Marketing) of CG.
CG MotoCorp is the official dealer of Suzuki brand vehicles for Nepal. After this agreement, the bank will provide easy and accessible car loans to CG Corps’s customers.
What are the benefits of the tie-up?
The customers will have access to the super miraculous car loan offer of the bank. It has an annual interest rate of 8.25 percent and 0.25 percent administrative fee. Apart from this, other facilities are also available.
The bank and CG MotoCorp have agreed to provide a 50 percent loan for private vehicles with red number plates and 80 percent loan for commercial vehicles with red number plates.
Similarly, the bank will provide the loan within 48 hours after receiving all the documents required. The loan period is up to 8 years in case of pledging of the vehicle and a maximum of 15 years in case of pledging of both vehicle and real estate.
Another good news is, the interest rate will not change for a year after getting the loan. The bank will provide the necessary guarantee paper for it. Similarly, the bank has made an arrangement to maintain the interest rate equal to the base rate if the base rate is more than 8.25 percent or 8.25 percent after one year.
All these offers and facilities will be available to the customers of CG MotoCorp all over the country.
NIC Asia Bank has been continuously coming up with several offers to lure customers. Its attempt in expanding its service is sure to benefit the bank in the long run.
Offers in Summary:
- The annual interest rate of 8.25 percent
- 50 percent loan for private vehicles, 80 percent for commercial
- loan within 48 hours after receiving all the documents required
Are you happy with this agreement? Do you expect better offers? Have your say on this in the comments below.