Mahalaxmi Sawari Karja (Private, Commercial & EV)

Personal Banking (Loans)

The scheme incorporates vehicle loan which includes Private Auto Loan/ Commercial Loan/electrical vehicle Loan and refinancing of old vehicle with a simple and hassle-free loan processing system.

Eligibility Age        :    20-70 years

Profession    :    Salaried individuals Remittance Income Holder Self-employed professionals Businessmen Nationality    :    Nepali



Loan Tenure

1. Private Auto (New): Maximum tenure of loan shall be up to 8 years

2. Commercial Vehicle (New): Maximum up to 5 Years

3. Electric Vehicle: Maximum tenure of loan shall be up to 5 years

4, Refinancing Used/Existing Vehicle: Should not exceed 8 years at the time of loan maturity from the date of Initial registration.


Loan Limit     : Minimum 5 lakh

                        : Maximum 3 crore


Collateral & Quantum of loan

Proposed vehicle will be registered in the name of bank with comprehensive insurance.

Financing ratio against FMV shall be as follow:

1. Private Auto (New): Up to 50% of quotation Price.

2. Commercial Vehicle (New): Up to 80% of quotation price and or 70olo of total quotation of both chassis and body making.

3. Electric Vehicle: Up to 80% of quotation price

4. Existing Vehicle: Maximum up to 50% of valuated amount

5. Refinancing Used/Existing Vehicle: Maximum up to 50% of valuated amount, or loan outstanding (in case of refinancing whichever is lower).


Note: Financing may change as per the provision of NRB Directives/ Circulars.


Documents required for Auto Loan

  1. Identification Documentation
    • Photograph and copy of citizenship of the applicant/sponsor/guarantor.
    • Marriage Certificate
    • Family Details & Nata Pramanit
    • Copy of Individual PAN certificate (where applicable)
    • Net worth statement of applicant/guarantor/sponsor.
    • Quotation of Vehicle issued by authorized dealers.
  2. Income related documents
    • For salaried individuals
      • Salary certificate from the employed organization/company (not older than 3 months).
      • Bank Statement, as applicable.
      • Latest two salary slips (if any).
    • For self-employed professionals
      • Certificate of registered professional.
      • Detail of income source/ profession.
      • Proof of last 3 years of continuous practice (if any).
      • Bank Statement, as applicable.
    • For business person
      • Latest audited financial statement as per prevailing Company/Tax Act of Nepal.
      • Bank Statement, as applicable.
      • Certificate of Incorporation (in case of organization)
      • Valid Firm/Company registration certificate.
      • MOA/AOA, Share Lagat, partnership deed (as applicable)
      • Recent tax paid receipt.
    • For other sources
      • Other rental income details.
      • Pension slip, interest received statement etc.
      • Bank Statement, as applicable.
      • Other verifiable income.
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