Toyota and NIC Asia Bank Team Up for 5.99% Fixed Auto Loan Up to 7 Years

Toyota Nepal Introduces Special Vehicle Financing for Customers

Toyota customers in Nepal now have access to an exclusive vehicle financing option thanks to a new partnership between United Traders Syndicate Pvt. Ltd. (UTS), the authorized distributor of Toyota vehicles, and NIC ASIA Bank. This collaboration aims to simplify car purchases for Toyota enthusiasts during the upcoming Dashain festive season.

Competitive Auto Loan Rates

Customers purchasing Toyota vehicles can obtain auto loans at a highly competitive fixed annual interest rate of 5.99%, with loan tenures extending up to seven years. In addition to the low-interest rates, buyers will also benefit from a discount of up to 25 basis points on the loan administration fee. These terms are subject to NIC ASIA Bank’s lending policies and the regulations set by Nepal Rastra Bank.

Timely Launch for Dashain Season

The financing facility has been strategically launched just before the Dashain festival—a peak period for vehicle purchases. The partnership between UTS and NIC ASIA Bank seeks to make securing financing more straightforward and affordable for customers looking to buy a Toyota during this busy season.

Official Agreement and Next Steps

The Memorandum of Understanding was formally signed by Rekha Shah Karki, Deputy General Manager (Sales and Marketing) at UTS, and Amit K.C., Chief Business Officer, Retail Business at NIC ASIA Bank. While the partnership offers a dedicated financing solution for Toyota buyers, final loan approval and terms will depend on the bank’s credit evaluation, current lending guidelines, and regulatory compliance.

This initiative is expected to boost vehicle sales and provide greater financial flexibility for Toyota customers in Nepal.