• BIZ BRIEFS

KATHMANDU: Pioneer MotoCorp Pvt Ltd, the authorised distributor of Nissan vehicles in Nepal, and Nabil Bank have signed a memorandum of understanding (MoU) to collaborate for EV and non-EV financing of Nissan vehicles.

As per the MoU, Nabil Bank will provide up to 80 per cent bank financing on Nissan electric vehicles (personal name) and 70 per cent on firm name, up to 70 per cent bank financing on non-electric vehicles (firm), and up to 50 per cent bank financing on non-electric vehicles (personal name) on Nissan vehicles, as per a press statement.

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 Nabil Bank with an interest rate of base rate plus 3.50 to five per cent to which the effective rate will range from 13.60 to 15.10 per cent for up to seven years.

A version of this article appears in the print on March 22, 2023, of The Himalayan Times.