Get Auto loan of up to Rs.15,000,000.00 at attractive rates starting at 9.63% p.a. with flexible tenures of up to 8 years. The processing fee varies between 0% and 1% of the loan amount.

Machhapuchhre Bank Limited Loan Details

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Machhapuchhre Bank Limited

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Interest Rate

+ up to 7.5% p.a. over base rate

Loan Tenure

Up to 8 years

Loan Amount

Up to Rs.15,000,000.00

Processing Fee

0% - 1% of the loan amount

Machhapuchhre Bank Limited

+ up to 7.5% p.a. over base rate
Interest Rate
Up to 8 years
Loan Tenure

Up to Rs.15000000

MBL has introduced a “Car loan” facility to finance individual customers as well as business units for the purchase of brand new or second-hand vehicles to be used for personal use.

Eligibility Criteria

  • All Nepalese individuals and business unit registered in Nepal.
  • The applicant must be at least 21 years of age (as per citizenship certificate) at the time of submission of loan application.
  • The loan must be terminable before the applicant reaches the age of 70 years.
  • In cases where salary income has been considered for the assessment of repayment capacity of the borrower, loan must be terminable before the age of retirement, or the borrower reaches 70 years of age, whichever occurs first.
  • Loan can be approved in joint names (more than one borrower also). However, at least one of the borrowers must meet the above criteria. Only members of an undivided family can be joint borrowers.
  • Business Units- must be registered in PAN/VAT and other competent authorities as per prevailing laws.

Documents

  • Duly filled up and signed prescribed application form of MBL.
  • Duly filled up and signed Multiple Banking Declaration form.
  • 2 photographs of applicant, and guarantors with name and signature on the back.
  • Copy of citizenship certificate of applicant, collateral owner/s and guarantors .
  • Name of father, grandfather and spouse of applicant, collateral owner/s and guarantors along with the details of their undivided family members.
  • Copy of relationship certificate (in case citizenship certificate does not establish the relationship of the guarantor/land owner with the borrower; such certificates may include birth / marriage certificates, etc.).
  • Bank Statement of 6 months period.
  • Copy of land ownership certificate (lalpurja) of the land showing residence of the individual borrower/family, if any.
  • Registration Documents & Tax Documents in case of business unit as applicant.
  • Documentary evidence of income.
  • Quotation of the vehicle with details of price, model, features etc.
  • Other related documents.
Disclaimer

Saral Banking Sewa is solely a  loan comparison site of Nepal. We just help you to find a perfect loan . For that our customer care team  is always ready to guide you with banking  process. We donot guarantee any kind of loan to a customer. And the loan shown here can be change any time.