Rastriya Banijya Bank Unveils "Festive Offer of Vehicle Loan" Scheme at 7.77% Interest Rate

Rastriya Banijya Bank Limited has launched a "Festive Offer of Vehicle Loan" scheme for private vehicles with a fixed interest rate of 7.77 percent as part of the Nepalese Great Festival Utsav Yojana.

The bank will offer loans of up to one crore rupees, with a service fee of 0.50 percent of the loan amount.

For electric vehicles, the bank will finance up to 80 percent of the vehicle's quoted price, and up to 50 percent for petrol/diesel vehicles.

The interest rate remains fixed during the loan period, and the bank promises a decision within 7 working days of application. The loan is available at all 294 branch offices, 310 ATMs, and 73 extension counters across all seven provinces and 77 districts.