KATHMANDU: Pioneer MotoCorp, the authorised distributor of Nissan vehicles in Nepal, and Everest Bank have signed a memorandum of understanding (MoU) to collaborate for EV and non-EV financing of Nissan vehicles.
As per the MoU, Everest Bank will provide up to 80% bank financing on Nissan electric vehicles (firm or individual name), up to 75% bank financing on non-electric vehicles (firm), and up to 50% 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 Everest Bank with an interest rate of base rate + 3.50% for EV and base rate + 4.00% for non-EV for up to seven years, and the service charge is 0.5% only. With only a 20% 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 Authorised dealers and Everest Bank.