Pioneer MotoCorp, the authorised distributor of Nissan vehicles in Nepal, and Nabil Bank have signed a Memorandum of Understanding to collaborate for financing of Nissan vehicles, both EVs and non-EVs.

As per the MoU, Nabil Bank will provide up to 80 percent financing on Nissan electric vehicles for individuals and up to 70 percent for institutions.

The bank will provide up to 70 percent financing on non-electric vehicles for institutions and up to 50 percent on non-electric vehicles for individuals.

“This collaboration aims to offer easy retail financing for customers looking to purchase vehicles from Nissan,” the bank said in a statement. 

As per the agreement, customers will get easy access to loan facilities from all branches of Nabil Bank. Interest rate on the loan will range from 13.60 percent to 15.10 percent for up to seven years. 

Customers can now own a Nissan electric vehicle with a 20 percent down payment, the bank said.