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Published On: August 29, 2016 08:27 PM NPT By: Republica

HBL auto loans at 6.5%

KATHMANDU, Aug 29: Himalayan Bank Ltd has announced that it will offer auto loans at 6.5 percent interest rate.

Issuing a statement on Monday, the commercial bank said that the new rate for personal auto loans was unveiled on the eve of the NADA Auto Show which is beginning in Kathmandu on Tuesday.

The commercial auto loans, however, will carry interest rates of 9 percent.

According to the statement, the bank will charge only 0.25 percent service charge on the loans.

While the personal auto loans will have a maturity period of eight years with 80 percent of loans on the price of total price of the auto, the commercial auto loans will have a maturity period of five years and 70 percent of loans on the total value of the vehicle.

The bank is also setting up its own stall at the auto show.

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