Mahalaxmi Bikas Bank to offer loans at 9.99 percent to purchase luxury vehicles

KATHMANDU:Mahalaxmi Bikas Bank will provide loans at 9.99 percent for the purchase of luxury brand vehicles.

The bank has inked a memorandum of understanding with Arete International Pvt Ltd, Nepal's official importer/dealer of Tesla, Audi, and Porsche vehicles.

Customers who want to buy luxury brand vehicles such as Tesla, Audi, and Porsche will be able to acquire a loan from Mahalaxmi Bikas Bank at a rate of 9.99 percent.

With repayment terms of up to five and eight years, respectively, the bank will lend up to 80% of the VAT bill or quotation price for electric vehicles and up to 50% for non-electric vehicles.

In addition, customers can apply for a loan by scanning the QR code on all branch offices, social media platforms, newspapers, and the bank's official website.