Rastriya Banijya Bank Partners with MAW-Vriddhi Motors for Electric Vehicle Loan Investment

Rastriya Banijya Bank Limited has partnered with MAW-Vriddhi Motors Private Limited to offer loans for electric vehicles (EVs).

The bank will finance up to 1 crore rupees for NAMMI/SERES EVs (private red plate vehicles) with a fixed annual interest rate of 7.77%.

Borrowers can repay in monthly installments, with a 0.75% service fee on the loan amount. The bank will cover up to 80% of the vehicle's quoted price, and the loan term can extend to seven years.

Rastriya Banijya Bank operates 294 branches, 312 ATMs, and 73 extension counters across all seven provinces and 77 districts.