Auto Loan

This Auto Loan is designed for financing the purchase of vehicles (car, jeep etc.) for personal purpose to the individuals having identifiable and stable income sources.

Major Highlights:
Loan LimitNPR 1 Million – up to Single Obligator Limit (SOL)
Loan Tenure

The maximum tenure is 10 years from the date of disbursement.

In the case of second hand vehicle, the manufacturing year of the vehicle is to be taken as 1 year and subsequent time of loan is taken accordingly. 
Repayment
Loan is to be repaid on Equated Monthly Installment (EMI) basis.
Financing

The total financing should not exceed 50% of the total purchase cost for the vehicle. In case of second hand vehicle, financing cost should not exceed 50% of valuated cost.

The Total financing should not exceed 80% of the total purchase cost for Electric Vehicles (EVs) only.

(For the purchase of second hand vehicles, price of the vehicle must be valuated/certified by the authorized valuators of Garima Bikas Bank Ltd.)
Eligibility
Employed and self-employed professionals (Doctors/ Engineers/ Bankers /CAs /Teachers etc.) and other individuals having reliable and stable source of income.
Basic Document

The applicant should provide at least the following documents before initiating the credit proposal.

  • Completed know your Customer (KYC) form.
  • Completed loan application form of the bank.
  • Map of the applicant's residence
  • Details of guarantors.
  • Copy of citizenship/passport of the applicant and guarantor.
  • Passport size photograph of the borrower and guarantor.
  • Proof of Income Source of the applicant.


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Fd Rates
Fixed Deposits

9.00%

Less Than 2 Cr

Individual Deposit (2 Yrs < 30 Mth)

9.00%

Less Than 2 Cr

Individual Deposit (2 Yrs < 30 Mth) More Rates
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