Kathmandu — Everest Bank Limited has launched a special auto loan scheme in collaboration with the Nepal Automobile Importers and Manufacturers Association (NAIMA) during the Nepal Mobility Expo 2025. The initiative aims to provide accessible and attractive vehicle financing options for individuals planning to purchase vehicles during the event.

Under the scheme, customers can obtain an Everest Bank Auto Loan with a repayment term of up to seven years. The interest rate is set at base rate plus 1.25%, while the processing fee is limited to just 0.50%, making it one of the most competitive offers in the current market.

Fixed Interest Option at 7.49% for 5 Years

In addition to the flexible interest rate model, Everest Bank is also offering a fixed interest rate of 7.49% for a 5-year loan term. This option is designed for customers who prefer predictable monthly installments throughout the loan period.

According to Prakriti Sapkota, a representative from Everest Bank’s Balaju branch, both standard and electric vehicles are eligible under this scheme. The loan structure requires customers to contribute a minimum down payment of 40%, while the remaining 60% of the vehicle’s price will be financed by the bank.

In Compliance with Nepal Rastra Bank Guidelines

The Everest Bank Auto Loan is fully compliant with the regulatory requirements of Nepal Rastra Bank. Key eligibility criteria include:

• Applicant must be under 65 years of age.

• Household income should be at least twice the monthly loan installment (EMI).

• Loans will be approved based on the applicant’s net income assessment.

• Third-party insurance is mandatory for all financed vehicles.

Required Documents for Auto Loan Application

To apply for the Everest Bank Auto Loan, the following documents are required:

• Citizenship certificate, National ID, and recent photograph of the borrower and guarantor

• Vehicle quotation

• Bank statements for the last 6 months

• Salary certificate and account statement (for salaried individuals)

• Pension documents (for pensioners)

• Rent agreement (if applicable)

• Business registration, PAN, VAT, and tax clearance certificate (for entrepreneurs)

• Firm’s profit & loss statement and balance sheet

• PAN certificate (mandatory for loans above NPR 2.5 million)

The bank reserves the right to request additional documentation if deemed necessary.

Encouraging Eco-Friendly Transport through EV Financing

The scheme prioritizes electric vehicles, aligning with Everest Bank’s commitment to promoting environmentally friendly transportation. By offering equal financing terms for EVs, the bank aims to support Nepal’s shift toward sustainable mobility solutions.

Limited-Time Offer Available Until August 25

The Nepal Mobility Expo 2025, hosted by NAIMA, will run until August 25. Everest Bank is currently the only financial institution participating in the expo, offering this exclusive and time-limited auto loan facility. Interested individuals are encouraged to visit the expo and take advantage of the scheme before the deadline.

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