UTS, NIC ASIA Bank offer Toyota auto loans at 5.99 pc

KATHMANDU: United Traders Syndicate (UTS) and NIC ASIA Bank have launched a financing facility offering Toyota buyers auto loans at a fixed annual interest rate of 5.99% for up to seven years ahead of Dashain festival.

UTS, the authorised distributor of Toyota vehicles in Nepal, said the scheme aims to facilitate vehicle purchases during the festival period.

Rekha Shah Karki, Deputy General Manager for Sales and Marketing at UTS, and Amit KC, Chief Business Officer for Retail Business at NIC ASIA Bank, signed a memorandum of understanding for the scheme.

Under the agreement, customers will receive a reduction of up to 25 basis points on the loan administration fee. The facility will be provided in accordance with the bank’s lending policies and directives issued by Nepal Rastra Bank.