Kathmandu. Nada has started the 17th edition of auto show at Bhrikutimandap in the capital today. Kumbh Mela has started at Bhrikutimandap for two and four-wheeler lovers.

Auto companies will give discounts to those who buy two and four-wheelers in the fair. Various banks will also give discounts to those who buy or book vehicles in the show while taking loans. Now some banks have come up with loan schemes aimed at nada auto show.

Banks have said that they will provide vehicle loans at a fixed rate and floating rate for a certain period of time. Nabil Bank has said that it will provide vehicle loan by adding one percent premium to the base rate. At present, the bank’s base rate is 5.74 percent. Auto borrowers will get 6.74 percent interest for a period of seven years. Administrative expenses will be 0.50 percent.

Himalayan Bank has decided to provide vehicle loans for a period of eight years.  The bank will provide vehicle loans at an interest rate of 7.50 per cent. It will attract 0.50 percent processing fee. Global IME Bank has announced that it will provide auto loan at 6.99 percent.

On the other hand, Agriculture Development Bank has said that EV loan will be given at 6.23 percent. The bank has announced a discount of up to 33 percent on service charges.

Similarly, Nepal Investment Mega Bank has come up with a plan to buy vehicles easily at attractive interest rates. The bank will offer loans at an interest rate of 6.29 per cent. At present, the bank’s base rate has been increased by 0.5 percent to 5.79 percent to 6.29 percent.

Laxmi Sunrise Bank has said that it will provide loans by adding one percent premium to the base rate. At present, the bank’s base rate is 6.35 percent. Auto loan will be given at 7.35 percent interest by adding 1 percent premium to it. Those who book a vehicle in NADA have to pay 0.50 percent service charge. At other times it was 0.75.

It has a duration of seven years. 7.99 percent interest will be charged on loans at fixed rates. This offer will remain in force till November 30. According to the bank, up to 60 percent of the finance facility is available.

Nmb Bank will offer loans at a fixed interest rate of 8.89 per cent and floating rate of 7.13 per cent for a period of seven years.

Sanima Bank has fixed different interest rates for 5 and 7 years. Vehicle loans will be given at an interest rate of 7.99 percent for five years and 8.15 percent for seven years. The service charge is 0.50 percent.