Everest Bank to finance the purchase of GWM vehicle

NL Today

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Kathmandu: 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 Power, and GWM Wingle 5 and the Electric Crossover Ora 03, it said.

The agreement was signed by Mr Rupesh Sharma Bhatta, Vice President of VG Impex Pvt Ltd and Gaurav Kumar, Deputy General Manager of Everest Bank Limited, amid a function in Kathmandu this week. The agreement, according to VG Impex, marks a significant step towards making GWM vehicles more financially accessible to customers.

“This collaboration has been done in order to ensure customers who are interested in purchasing GWM models get the benefit of 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,” according to a press statement issued by VG Impex.

“Everest Bank will provide maximum 80 percent loan at attractive rate of interest for maximum period of 7 years. Minimum effective ROI is 10.80% for the loan tenure up to 3 years. The return of interest is discounted by 0.50% on loans with Loan to Value (LTV/Bank Finance) upto 50.00% incase of EV and processing charge is only 0.50% of loan sanctioned for all vehicles,” the statement reads.

Customers can apply for an Auto Loan by visiting the nearest Everest Bank Branch with the required documents.