Vehicle lending leads
Samir Thakur, chief executive of Hulas Finsarv Hire Purchase Company, said Nepal Rastra Bank has already defined the areas where hire-purchase firms can lend. He made the remarks at a NAIMA event on finance and insurance for mobility.
Main lending mix
He said these companies are lending mainly to vehicles. Of the recent credit, 80% has gone to vehicles and 20% to mobile phones. Thakur also said hire-purchase firms have already extended about Rs 40 billion in credit.
Who these firms serve
Thakur said the target customers are people who cannot easily reach banks, especially borrowers seeking small loans. Some borrowers who have already completed bank procedures also use hire-purchase financing. Loans can be approved within a few hours.
Writes on vehicle pricing, taxation and the Nepali auto market from ongoing tracking of distributor price lists. Editorial policy.
