Mahalaxmi Bikas Bank to provide a loan at 9.99% to purchase Tata vehicles

KATHMANDU:A memorandum of agreement has been struck by the bank and JB Automotive Company Pvt Ltd, the Tata vehicle dealer in Nepal, for the purchase of Tata brand vehicles through Mahalakshmi Bikas Bank.

Customers interested in acquiring a Tata vehicle will be able to obtain a loan from Mahalaxmi Bikas Bank at a rate of 9.99 percent.

Customers can get a loan for up to 80% of the VAT bill or quoted price for electric vehicles, with a maximum period of 5 years, and up to 50% for non-electric vehicles, with a duration of up to eight years.

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

The bank has 103 branch offices and around 7 lakh customers throughout the country. Furthermore, the bank's 22nd annual general meeting, held on Poush 28, 2080, approved a resolution to seek strategic partnerships with foreign banks or financial organizations.