Other Vehicle Loan

Other Vehicle Loan

Owning a new car, a pre-owned car which you have always dreamt of is now easy. We offer you Auto Loan that would change your dreams to reality. Now you no longer have to wait to own & ride your dream car. Press on the accelerator and drive away with the car that would define your lifestyle. If you have always dreamt of owning your own commercial vehicle and make your transport-related business more successful, you are at the right place. The trust we offer Auto Loan for purchase of new commercial vehicles or refinance of used commercial vehicles to suit all your needs.

Other Vehicle Loan
7 %
Interest Rate
Other Vehicle Loan
8.22 %
Base Rate
Other Vehicle Loan
15.22 %
Total Interest Rate

Last Updated Date: May 17, 2022

Nabil Bank Ltd

Nabil Bank Limited is the first private sector bank in the nation and has been operating since July 1984. With the aim of expanding the international standard of modern banking services to different segments of society, Nabil was integrated. In pursuing its goal, through its 118 points of representation, Nabil Bank offers a full range of commercial banking services. In addition to this, Nabil has a presence throughout the nation through over 1500 Nabil Remit agents. As a leader in the introduction of many revolutionary products and marketing concepts in the domestic banking industry, Nabil started a period of modern banking with customer loyalty calculated as a focal target while doing business. A highly skilled and seasoned management team oversees the bank's affairs, including day-to-day affairs and risk management. The bank is completely equipped with advanced technology, including international standard banking applications enabling e-channels and e-transactions. For all its stakeholders, clients, shareholders, regulators, societies, and employees, Nabil is going forward with a vision to be the 1st option provider of full financial solutions. Nabil is committed to providing its stakeholder's excellence in a variety of areas, not just one measure, such as profitability or market share. It is mirrored in its Together Ahead Brand Pledge.

Other Vehicle Loan

REQUIRED DOCUMENTS

Required documents for Auto Loan


  1. Duly filled up and signed prescribed application form of banks.
  2. 2 photographs of applicant, and guarantors with name and signature on the back.
  3. Copy of citizenship certificate of applicant, collateral owner/s and guarantors
  4. Name of father, grandfather and spouse of applicant, collateral owner/s and guarantors along with the details of their undivided family members.
  5. Bank Statement of 6 months period.
  6. Copy of land ownership certificate (lalpurja) of the land showing residence of the individual borrower/family
  7. Registration Documents & Tax Documents in case of business.
  8. Documentary evidence of income.
  9. Quotation of the vehicle with details of price, model, features etc.
  10. Other related documents requested by banks.


What is Auto Loan?

An Auto Loan is taken by borrowers to purchase a new or used private or commercial vehicle. Auto loans are secured loans where the vehicle itself is used as collateral. It is offered by lenders for new cars, used cars, two-wheeler (generally called a Two-wheeler Loan), and commercial vehicles (generally called a Commercial Vehicle Loan). Auto loans can be used to purchase either new or used vehicles. The term of an auto loan typically ranges from 24 months to 60 months, though longer loans with 72 or 84 months are becoming increasingly common. Most lenders limit the term lengths to 48 or 60 months for older car purchases, as used cars are riskier to finance. This is because car value generally declines over time, unlike home value. Accordingly, if the car being financed is also used as collateral, lenders need to make sure that it will be worth enough to cover their losses if the borrower defaults. Because of the rapid depreciation of car value, shorter loan terms and larger down payments are most advisable for auto loans.

Way To Take Auto Loan

An auto loan with a low monthly payment might look like a good option, but that can actually cost you significantly more over time. And the loans you’ll be offered will also vary depending on different factors, like your income source, valuation of property with unstable sources can make it harder to get the best loan offers. Here are things to look for and steps to take if you want to save money on your car loan:

  1. Design a payment plan for yourself: Before you even submit a car loan application, set out a car payment plan for yourself. Figure out how much you can afford to pay upfront, and how much you’ll need in a car loan.
  2. Make bigger or additional payments: Paying off a loan early can save you money because you’ll avoid paying some of the interest. See if you can afford to pay a little more each month as part of your regular payments, or, if you suddenly come into some cash, consider putting it towards your auto loan.
  3. Refinance your loan: If you find a car loan with a lower interest rate than your current one, maybe because your credit score has improved since you first got your car loan, consider refinancing your car and switching loans. The lower the interest rate, the less you’ll pay over time.

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