MBL Auto Loan
MBL has introduced “Auto loan” facility to finance individual customers as well as business units for the purchase of brand new or second hand vehicles to be used for personal use.
Notice/News Publication |
Overview
MBL Auto Loan is a financing facility designed to support individual customers and business entities in the purchase of new or used vehicles for personal use. The product offers flexible loan amounts and repayment options to ensure convenient vehicle ownership.
Key Features
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Loan Limit: Minimum NPR 500,000; Maximum NPR 15,000,000
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Purpose: Purchase of new or used vehicles for personal use
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Tenure: Up to 8 years
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Additional Features
• Financing available for both new and used vehicles
• Facility available for individuals as well as business units
• Flexible repayment structure based on the borrower’s capacity
Eligibility
• Nepalese individuals and business entities registered in Nepal
• Minimum age: 21 years at the time of application
• Loan must be repaid before the borrower reaches 70 years of age or retirement (whichever is earlier)
• Joint applications allowed (only among members of an undivided family, with at least one eligible borrower)
• Business entities must be registered with PAN/VAT and the relevant authorities
For Business Entities:
Registration and tax documents (PAN/VAT)
Required Documents
Duly filled and signed loan application form
Multiple Banking Declaration form
Recent photographs of applicant(s) and guarantor(s)
Citizenship certificates of applicant(s), guarantor(s), and collateral owner(s)
Family details (father, grandfather, spouse, and undivided family members)
Relationship certificate (if required)
Bank statement (minimum 6 months)
Proof of residence (if applicable)
Income verification documents
Vehicle quotation (price, model, features, etc.)
Frequently Asked Questions
Related Products
MBL Education Loan
Loan Limit: Minimum NPR 200,000; Maximum NPR 10,000,000
Purpose: Financing of tuition fees, living expenses, insurance, travel, and other educational costs