Toyota and NIC Asia Bank Partner to Offer 5.99% Fixed-Rate Auto Loan for Up to 7 Years

Toyota customers in Nepal can now access a special vehicle financing facility following a financial partnership between United Traders Syndicate Pvt. Ltd. (UTS), the authorized distributor of Toyota vehicles in Nepal, and NIC ASIA Bank.

Under the agreement, customers purchasing Toyota vehicles can secure an auto loan at a fixed annual interest rate of 5.99% for up to seven years. The financing package also includes a discount of up to 25 basis points on the loan administration fee, subject to the bank’s applicable lending policies and the directives of Nepal Rastra Bank.

The facility has been introduced ahead of the Dashain festive season, with the companies aiming to make vehicle financing more accessible for customers looking to purchase a Toyota vehicle during the period.

The memorandum of understanding was 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.

The partnership provides Toyota customers with a dedicated financing option while the applicable loan terms remain subject to the bank’s credit assessment, lending policies and prevailing regulatory requirements.