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Global Hire Purchase Loan

!! GBL Hire Purchase loan enables you to purchase commercial vehicles such as heavy and light commercial vehicles especially truck, bus, microbus excavator etc.!!

Purpose
  • Purchase of new vehicles
  • Swapping Loan from other Bank or financial institutions


Features and Benefits
  • Competitive Interest rates for both private and commercial vehicle.
  • Flexible Repayment Schedule: Monthly (EMI) or quarterly (EQI) basis.
  • Quick Turnover time: Approving status within 36-48 hours upon completion of all required documents 
  • Flexible tenor: Up to 5 years
  • Financing up to 80% of quotation price. 
  • Counseling to help better financing by our Relationship Managers throughout the process
  • Loan processing fee: 1.50 % of the loan amount
  • Prepayment charge: 1.00 % of the prepaid amount if pre payment is made within 1 year of initial disbursement.


Eligibility
  • Individual – Nepalese Citizen above 21 years, Salaried Individuals in permanent service with any credible organization.
  • Self employed Individuals, Company/ firm having sufficient income and cash flow to serve debt.
  • Company (Pvt. / Public)/ Proprietorship/ Partnership (duly registered with the concerned government authority) proposing to use vehicle for personal/ private use.
  • Maximum loan amount up to NPR 10.00 Mio. 
  • EMI/ EQI: 50% of gross income
  • EMI/ EQI: 80% of uncommitted (disposable) income


Documents Required

Identification
  • 2 Passport size photos of applicant.
  • Photocopy of citizenship certificate/ passport of Applicant and Guarantor
  • Photocopy of Tax/ PAN/ VAT certificate along with registration certificate
  • Photocopy of Article of Association and Memorandum of Association 
  • Photocopy of Land ownership certificate

Proof of income
  • Salary Certificate
  • Photocopy of contract agreement between applicant and his/ her employer
  • Photocopy of Rent Contract if any
  • Photocopy of audited/ management prepared Financial Statements (Past 3 years)
  • Others if any

Vehicle related documents
  • Quotation of vehicles
  • VAT bill of the vehicle


Others
  • Loan application firm duly filled and signed in standard format of the bank
  • Name of the family members
  • Current account of the applicant/ borrower
  • Incase of swapping loan, loan statement from other banks and financial institution
  • Net worth declarations
  • Other documents stipulated by the Banks from time to time

Refer to your nearest branches.

Download Hire Purchase Loan Application form »

Note: All the above forms are in PDF format. 
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