Hire Purchase Loan Interest Rate
Hire Purchase Loan Interest Rate (HP) is generally similar to an Auto loan or other Vehicle loan. Auto loans are used for financing private vehicles, but these HP loans are widely used for funding of different commercial vehicles like buses, trucks and other construction equipment. Hire Purchase loan interest rate in Nepal is determined by Base Rate plus Fixed rate or Spread rate over time.
As we know, all the Banks and Financial Institutions used to follow the methodology set by the Central banks for determining the Loan Interest Rate. Like the deposit interest rate, the Loan interest rates are also revised every month and practice in effect from the beginning of each month. The banks set the interest rate in loan products by adding a premium rate (spread rate) to their base rate. Here, you will get the Hire Purchas Loan Interest Rate in Nepal set by each BFI.
We have extract the exact Interest Rate provided by each BFI on their Website, Social Pages and Circulars. So, let’s find the Hire Purchas Loan Interest Rate in Nepali Banks and get the best deal for your financing requirements.
Hire Purchase Loan Interest Rate in Nepali Banks
Here’s the latest Interest Rates of all BFIs for this month,
| Bank/Financial Institution (FI) | Loan Name | Interest Rate Range | Processing Fee | Tenure |
|---|---|---|---|---|
| Agricultural Dev. Bank (Krishi Bikas) | Hire Purchase Loan | 5.40% - 7.40% | - | - |
| Everest Bank | Hire Purchase Loan | 5.85% - 7.85% | - | - |
| Siddhartha Bank | Hire Purchase Loan | 5.86% - 9.11% | - | - |
| Citizens Bank Int'l | Hire Purchase Loan | 5.94% - 8.94% | - | - |
| Prime Commercial Bank | Hire Purchase Loan-Comm. | 6.12% - 11.12% | - | - |
| Prime Commercial Bank | Auto Loan | 6.12% - 11.12% | - | - |
| Nepal Bank Ltd. | Hire Purchase Loan | 6.22% - 8.22% | - | 5 years |
| Machhapuchhre Bank | Hire Purchase Loan-Specific | 6.26% - 8.26% | - | - |
| Excel Bikas Bank | Hire Purchase Loan | 6.39% - 10.39% | - | - |
| Himalayan Bank | Hire Purchase-Premier | 6.39% - 8.39% | - | - |
| Jyoti Bikas Bank | Hire Purchase Loan | 6.44% - 11.44% | - | - |
| Shine Resunga BB | Hire Purchase Loan | 6.45% - 10.45% | - | - |
| Rastriya Banijya Bank (RBB) | Hire Purchase Loan | 6.56% - 7.81% | - | - |
| Shangrila Bikas Bank | Hire Purchase Loan | 6.57% - 10.56% | - | - |
| Nepal Bank Ltd. | Commercial vehicle | 6.72% - 7.72% | - | 5 years |
| Nepal SBI Bank | HP- Electric | 6.88% - 8.88% | - | - |
| Nepal SBI Bank | Hire Purchase Loan | 6.88% - 8.88% | - | - |
| Miteri Bikas Bank | Hire Purchase | 6.91% - 10.91% | - | - |
| Sanima Bank | Hire Purchase Loan-Term | 7.11% - 9.11% | - | - |
| Green Dev. Bank | Hire Purchase Loan | 7.44% - 11.44% | - | - |
| Manjushree Finance | Tractor Loan | 7.55% - 11.55% | - | - |
| ICFC Finance Ltd | Hire Purchase Loan-Comm. | 7.58% - 11.58% | - | - |
| ICFC Finance Ltd | Hire Purchase Loan-Other Loan | 7.58% - 11.58% | - | - |
| ICFC Finance Ltd | Hire Purchase Loan | 7.58% - 11.58% | - | - |
| NIC ASIA Bank | Auto Loan- Commercial | 7.68% - 9.68% | - | - |
| NIC ASIA Bank | Auto Loan-Green Plate | 7.68% - 9.68% | - | - |
| NMB Bank | Hire Purchase Loan | 7.72% - 9.72% | - | - |
| NMB Bank | Electrical Vehicle-Commercial | 7.72% - 9.72% | - | - |
| Machhapuchhre Bank | Hire Purchase Loan-Normal | 7.76% - 9.76% | - | - |
| Global IME Bank | Hire Purchase Loan | 7.83% - 9.83% | - | - |
| Nepal Investment Mega Bank (NIMB) | Hire Purchase Loan -Commercial | 8.01% - 10.01% | - | - |
| Central Finance Ltd | Hire Purchase | 8.10% - 13.10% | - | - |
| Gurkhas Finance Ltd | Hire Purchase Loan | 8.12% - 15.12% | - | - |
| Goodwill Finance Co. | Hire Purchase Loan | 8.12% - 12.12% | - | - |
| Lumbini Bikas Bank | HP Loan | 8.13% - 10.63% | - | - |
| Sindhu Bikas Bank | Hire Purchase Loan | 8.19% - 13.19% | - | - |
| Prabhu Bank | Hire Purchase Loan | 8.19% - 10.19% | - | - |
| Progressive Fin. Co. | Hire Purchase Loan | 8.22% - 11.22% | - | - |
| Garima Bikas Bank | Hire Purchase Loan | 8.23% - 10.23% | - | 5 years |
| Himalayan Bank | Hire Purchase-Standard | 8.39% - 9.89% | - | - |
| Nabil Bank | Hire Purchase Loan-Tractor | 8.41% - 9.41% | - | - |
| Nabil Bank | Hire Purchase-EV | 8.41% - 9.41% | - | - |
| Muktinath Bikas Bank | Hire Purchase Loan | 8.44% - 10.44% | - | - |
| Reliance Finance Ltd. | Hire Purchase Loan | 8.76% - 10.76% | - | - |
| Kumari Bank | Hire Purchase Loan-comm. | 8.88% - 9.88% | - | - |
| Himalayan Bank | Hire Purchase-Fixed Rate | 9.00% - 9.00% | - | 7 years |
| Everest Bank | Hire Purchase Loan-Fixed Rate | 9.00% - 9.00% | 0.75% | 7 years |
| Prime Commercial Bank | Hire Purchase Loan-Fixed Rate | 9.00% - 11.00% | - | - |
| Best Finance Co. | Hire Purchase Loan | 9.41% - 14.41% | - | - |
| Machhapuchhre Bank | Hire Purchase Loan-Fixed Rate | 9.50% - 9.50% | - | 5 years |
| Siddhartha Bank | Hire Purchase Loan-Fixed | 9.75% - 9.75% | - | 5 years |
| Citizens Bank Int'l | Hire Purchase Loan-Fixed Rate | 10.00% - 10.00% | - | 5 years |
| Rastriya Banijya Bank (RBB) | Hire Purchase Loan-Fixed Rate | 10.00% - 10.00% | - | 5 years |
| Siddhartha Bank | Hire Purchase Loan-Fixed | 10.25% - 10.25% | - | 5.083 years |
| Machhapuchhre Bank | Hire Purchase Loan-Fixed Rate | 10.50% - 10.50% | - | 10 years |
| Agricultural Dev. Bank (Krishi Bikas) | Hire Purchase-Fixed Rate | 10.65% - 10.65% | - | - |
| Global IME Bank | Hire Purchase Loan-Fixed Rate | 10.99% - 12.99% | - | - |
Interest Rate in Nepali Banks
Based on the Interest Rate collected from all licensed BIFs ‘A’, ‘B’ & ‘C’, we can see that the ‘C’ Class Finance Companies provide the highest Interest Rate. After Finance Companies, the ‘B’ Class Development Banks also offer a higher Interest Rate.
Note: All the interest rates mentioned here and every BFIs are measured in p.a. (Per Anum/ Anually)
We hope you get the Hire Purchase Loan Interest Rate in Nepali Banks and financial institution to choose the best one for your financing requirements. With these interest rate data of each BFI, you will get the best idea and choose the right banks to fulfill the fund requirement and make the best decision.