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MAW Group of Companies has announced a partnership with Everest Bank Limited for the easy and accessible financing of the ICE and EV vehicles and construction equipment of various brands being distributed by the group in Nepal.
MAW Group has been importing vehicles and construction equipment from brands like Yamaha, JCB, Jeep, Skoda, Eicher, Foton and Changan. Everest Bank will now provide up to 80% financing at a minimum interest rate of 3.5% (for EV) and 4% (for Non-EV) above the base rate on a floating basis for a period of 7 years.
Mr Tej Subedi, Vice President- Finance, MAW Group and Ms Dina Shrestha, Branch Manager, Everest Bank signed the MOU on Monday for the financing of the vehicles and heavy equipment. Customers will be able to take delivery of their aspired vehicles and heavy machines within 7 working days after completion of documentation.
Customers of Jeep, Skoda and Changan can get up to 80% finance of their passenger vehicle at the interest rate of 3.5% (4.0% for non-EV). Similarly, customers can buy the commercial vehicles of Eicher, Foton and Changan with 60% finance at the interest rate of 4% for non-EV and 3.5% for EVs above the base rate prescribed by Nepal Rashtra Bank.
Likewise, customers of JCB heavy machines and construction equipment will get financing up to 75% at a floating rate of base rate and 4% per annum.
Customer of MAW can finance their vehicles and heavy equipment from any branch of the 124 branches of Everest Bank across Nepal.
