Yes, if you are a self-employed individual with your business in commercial operation for at least 2 years. Otherwise, you can not apply without a permanent job.
Depending on the banks, the down payment amount for an auto loan varies. However, it typically ranges between 20% to 30%, and some banks may offer 10% in their special schemes.
The monthly EMI for a car loan is the installment payment amount that you have to pay every month during the loan’s life. It varies based on the loan amount, interest rate, and tenure.
If your auto loan has a floating interest rate, the monthly payment can vary because of a change in interest rate due to the fluctuating market conditions.
In simpler terms, the fixed interest rate remains the same throughout the loan tenure, ensuring constant monthly payments. Meanwhile, floating interest rates can fluctuate depending on the market condition.
A floating interest rate is a type of interest rate on an auto loan that changes periodically based on the financial condition of the market. It can rise or fall, making EMI payments vary over the loan tenure.
Some banks offer lower interest rates for electric vehicles (EVs) than conventional fuel-based vehicles to encourage green energy.
Yes, you can get an auto loan for a second-hand car from some banks. However, the interest rate, down payment, and loan tenure scheme for second-hand cars may differ from those for new cars.
To use our Saral Banking Sewa’s auto loan EMI calculator, you need to enter the loan amount, interest rate, and loan tenure. It’s that easy!
You can use our auto loan comparison tool to find the cheapest auto loan option in Nepal based on the latest interest rates.
