Pioneer MotoCorp Pvt. Ltd., the authorized distributor of Nissan vehicles in Nepal, and Everest Bank have signed a Memorandum of Understanding (MoU) to collaborate for EV and Non-EV financing of Nissan vehicles. Customers can now own a Nissan EV by paying a downpayment of 20 percent only.

As per the MoU, Everest Bank will provide up to 80 percent bank financing on Nissan electric vehicles (firm or individual), up to 75 percent bank financing on non-electric vehicles (Firm), and up to 50% percent bank financing on non-electric vehicles (individual) on Nissan vehicles.

This collaboration aims to offer easy retail financing for customers looking to purchase vehicles from Nissan. As per the agreement, customers will get easy access to loan facilities from all branches of Everest Bank with an interest rate of Base Rate + 3.50% for EV and Base Rate + 4.00% for Non-EV for up to 7 years, and the service charge is 0.5% only.

The loan will be floated in line with the related directives and guidelines of Nepal Rastra Bank. The scheme will be valid all over Nepal between Pioneer Motocorp Authorized dealers and Everest Bank.

Nissan offers the Leaf EV in the Nepalese market. On the ICE segment, the company sells Magnite, Kicks, Patrol and Urvan.