Large Commercial Vehicle

To part finance and re-finance large commercial vehicles (bus, truck, tipper, tanker) to be used for own business purpose or to be operated as means of public transport or/and for transportation of goods.

Those with permanent residential address (must).
Those having previous experience in similar area as an entrepreneur (e.g. owners of Taxi / Commercial Vehicles used for similar purpose).
Those who will be driving the vehicle themselves. In case the above criteria mentioned in point 2 or 3 are not met, additional source of income or sufficient collateral (land or land & building) is required. In this regard, the future expected rental income with a plan to lease house cannot be considered as a source of income.
Should have necessary route permits and recommendation of Yatayat Samiti where they operate (if applicable).
Business entities with sustainable income source and should be registered and operating for minimum one year.

Minimum age of the applicant -18 Years.
Maximum age of the applicant - 65 years. However age should not exceed 70 years at the date of final repayment of the loan. Guarantor should be included if applicant’s age is above 55 years. The guarantor should not be over 65 years and should be from one house family member.

Minimum loan amount - NPR 500,000/-(Nepalese rupees five hundred thousand only).
Maximum loan amount - NPR 10,000,000/- (Nepalese rupees ten million only).
Financing %:
- New vehicle financing: Maximum up to 80% of the cost of the vehicle.
- Refinancing (including Swap Case): maximum up to 80% of the valuation amount provided by the authorized vehicle dealer/assessor of the Bank or the curret outstanding amount at other financial institution whichever is lower.

Maximum 8 years.

Equated Monthly Installment (EMI) over approved loan tenure.

Loan Application.
Pro-forma invoice from the dealer of the vehicle addressed to the applicant showing details of the vehicle (model, options etc.) and final price (in case of new vehicle). Valuation report from the authorized vehicle dealer/assessor of the Bank showing details of the vehicle (in case of refinancing).
Photograph and copy of citizenship of the applicant/sponsor/guarantor/s, as applicable.
Valid registration certificate, Income Tax Certificate and other related documents of business entity, as applicable.
Income statement or cash flow details of the applicant/guarantor, as applicable. Latest Audited Financial Statement in case of business entity.
Map of the applicant’s/sponsor’s/guarantors residence.
Net worth statement of applicant/sponsor/guarantor, as applicable.
Title Deed, four boundary certificate, trace map, revenue receipt of land or land and building offered as collateral. In case of loan for against building as a security within Municipality, documents certifying fulfillment of required standards set by the competent authority such as Naksapass, approval from concerned authorities, building construction completion certificate should be obtained.
Route permit, as applicable.
Document stating that the custom duty has been fully paid and there is no restriction in transferability of the vehicle ownership (in case of green plate vehicle).
Proof of other sources of income (if applicable).
Declaration by the applicant that the vehicle being financed will be driven by a person holding valid driving license.
Copy of letter of intent from the Yatayat Samiti that the vehicle will be allowed to operate in its prescribed route.
Estimation of the approximate income if the vehicle can generate by operating in the prescribed route.
Proof/copy of blue book confirming the possession of other vehicles as mentioned in the application, where applicable.