Services

Hire Purchase Loan
Loans provided for the purchase of vehicles for personal or business use, which may eventually come under the ownership of an individual or institution, are referred to as Hire Purchase Loans.

Eligibility for Loan:
a) To obtain this loan, the borrower or their family must have a reliable monthly income, and for personal use, a permanent source of income must be disclosed.
b) The purchased vehicle will remain registered in the institution's name until the loan is fully repaid.
c) The borrower must insure the vehicle as per regulations.
d) The borrower must continue to pay vehicle taxes according to the law.
e) In case of an accident or theft, the borrower or their family will bear the loss.
f) Priority will be given to members participating in the institution's wealth-generating savings schemes (such as vehicle savings, real estate savings, jewelry, education, etc.).
g) The borrower must invest at least 30% of the cost themselves. For used vehicles, real estate collateral is mandatory, and no more than 50% of the total value of the used vehicle will be financed.

Loan Tenure:
The maximum tenure for this loan will be up to 7 years, but for motorcycles, the maximum tenure will be 2 years.

Loan Limit:
The loan amount will be capped at NPR 7.5 million.

Repayment Method:
The loan (principal and interest) must be repaid in mandatory monthly installments.