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Pioneer MotoCorp Pvt. Ltd, the authorized distributor of Nissan vehicles in Nepal, and Nabil Bank have signed a Memorandum of Understanding (MoU) to collaborate for EV and Non-EV financing of Nissan vehicles.
As per the MoU, Nabil Bank will provide up to 80% bank financing on Nissan electric vehicles (individual) and 70% (firm), up to 70% 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 Nabil Bank with an interest rate of Base Rate + 3.50% to 5% to which the effective rate will range from 13.60% to 15.10% for tenure-up to 7 years. With only a 20 percent down payment, customers can now own a Nissan electric vehicle.
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 Nabil Bank.
