NIC Asia rolls out 5.99% fixed-rate auto loan
NIC Asia Bank has introduced a new auto loan scheme with an interest rate of 5.99% per annum, fixed for up to 7 years.
The bank is targeting buyers who want to add a private vehicle, commercial vehicle or environment-friendly electric vehicle to their fleet, with the key attraction being rate stability. With the 5.99% rate locked for seven years, future increases in market interest rates will not change the EMI, giving customers predictable monthly payments over the full tenure.
The bank says the loan process is designed to be quick and hassle-free, with simplified documentation and speedy approval aimed at helping customers get their vehicles on the road sooner.
Under this scheme, buyers looking for four-wheelers or electric vehicles for personal use or business can approach NIC Asia Bank branches nationwide to finance their purchase at the new fixed rate.
Writes on vehicle pricing, taxation and the Nepali auto market from ongoing tracking of distributor price lists. Editorial policy.
