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VG Impex Pvt. Ltd, the sole authorized importer and distributor of GWM brand of vehicles for Nepal, has collaborated with Everest Bank Limited for financing its popular IC Engine models like Haval H6, Haval Jolion GWM Poer, and GWM Wingle 5 and the Electric Crossover Ora 03.
This collaboration has been done in order to ensure customers who are interested in purchasing GWM models get the benefit of a seamless retail financing experience. It also aims to provide customers with various financing packages with competitive interest rates, down payment and loan period options which customers can choose based on their requirements.
Everest Bank will provide a maximum 80 % loan at attractive ROI for a maximum period of 7 years. The minimum effective ROI is 10.80%* for a loan tenure of up to 3 years. ROI for GWM Electric Model (EV) is BR*+ 2.00% (Effective Interest Rate of 11.30%). Similarly, the ROI for GWM IEC Engine Models is BR*+ 2.50% (Effective Interest Rate of 11.80%)
ROI is discounted by 0.50% on loans with Loan to Value (LTV/Bank Finance) up to 50.00% in the case of EV and the processing charge is only 0.50% of the loan sanctioned for all vehicles.
The MOU was signed on July 23, 2023, by Rupesh Sharma Bhatta, Vice President of VG Impex Pvt. Ltd. (GWM-Nepal) and Gaurav Kumar, Deputy General Manager of Everest Bank Limited, marking a significant step towards making GWM vehicles more financially accessible to customers.
