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Bajaj’s Festival offer- “Rojerai Khusi” | Reviews Nepal

29th September 2020
"Khusi Khojney Haina Rojney."

Kathmandu, 20th September – On the special occasion of the Dashain and Tihar Festival Hansraj Hulaschand & Co. Pvt. Ltd., the sole authorized distributor of Bajaj motorcycles has launched “Rojerai Khusi” with the line “Khusi Khojney Haina Rojney.” 

bajaj-dashain-offer

Bajaj has always come up with exciting schemes and offers for the customers. And even in the time of the COVID-19 pandemic, Bajaj is trying to scatter happiness among the customers by providing offers as per their need. On this auspicious occasion of Dashain and Tihar Festival Bajaj provides an opportunity for customers to enjoy the benefits of three different schemes and happily celebrate the festivals ensuring their safety.

Under the “Rojerai Khusi” scheme customers can purchase any brand new Bajaj motorcycle by choosing one among the three available offers – Either a cash discount of Rs.10,000 or enjoy 0% interest on a 50% down payment or financing on a 20% down payment. This offer is available in all showrooms across the country.

After the announcement of such a wonderful offer Mr. Shekhar Golchha, Managing Director of Hansraj Hulaschand & Co. Pvt. Ltd. shared, “Bajaj is always driven towards providing our customers with exciting and beneficial offers as per the need of time. We are glad to be the reason for customer’s happiness and Rojerai Khusi is perfect to be part of their celebration in this festival season. We hope our customers will be delighted with this offer.”

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Compiled by : Upasana Poudel Upasana Poudel

Auto loan offer in Nepal | Reviews Nepal

29th September 2020
"In Nepal around 95 percent of buyers opting auto loans for new cars and bikes."

Most of the vehicles sold in the world are financed by financial institutions. In the case of Nepal around 95 percent of buyers opting auto loan new cars and bikes. At present, only 50 percent of the value of a loan car can be given in Nepal. But, until a few years ago, up to 80 percent of the finance facility was available from various banks.

Purchasing a four-wheeler is no longer just a status symbol; instead, it has become a necessity in today’s time-pressed life. However, before looking for the latest car models in the market, one must remember that buying a car is a significant investment. Many people end up taking car loans at a high rate of interest, which can result in high monthly EMIs.

Look for the best interest rate

Compare the rates of interest offered by various banks or financial institutions before actually getting a car loan. Since there are no standard rates in the market, even a slight difference in the rate of interest could play a huge impact on the amount that you have to repay the bank. The rate of interest differs from floating to flat and varies from lender to lender. Obtain quotations from different dealers of the desired vehicle. Every car dealer has a tie-up with different lenders and hence you might receive various quotes on interest rates and other charges.

This can help you in evaluating the deals available while helping you the best deal for your car.

Every bank follows the KYC (Know Your Customer) norms for granting loans. There is a certain set of documentation that needs to be completed and verified along with your credit record to fulfill the approval of a car loan. Prior to buying a car, it can help to get a pre-approved car loan car financing officer from the lender of choice. This guarantees faster processing of the car loan but most importantly, a pre-approved car loan also works as an additional advantage while negotiating with the car dealer.

Choose loan repayment tenure wisely

The most important part of a car loan is the loan repayment terms. Some banks may influence you to opt for a particular loan that may appear appealing to you. For instance, you might be quoted as a smaller EMI amount for a seven-year loan period. But if you calculate the total repayment in seven years you may be in shock. Hence it is prudent to select the minimum loan repayment tenure that can help you to save a lot of money in the long run.

Calculate your loan EMI, processing fees, and foreclosure penalties

Nowadays a number of banks offer easy EMI calculators that can help you to plan your monthly EMI based on the interest rate, thus helping to decide the best-interested rate and loan for your car. Also, look out for processing fees as various banks charge different fees, and hence a comparison of various lending options can help you make an informed decision.

Similarly, you may also have to look into service tax, on whether it needs to be paid as a one-time lump sum fee or to be paid on a yearly basis. Another important factor to look into is foreclosure penalties. Most buyers are unaware of the foreclosure clause and since various banks have different foreclosure rates it is important to choose your bank wisely.

The current bank's rate of interest in Nepal

Scrutinize for schemes and offers. Almost every bank or lender that offers car loans provides a number of attractive offers and deals. Many customers are attracted as the initial amount is paid down in easy monthly installments according to their income.

NIC Asia Bank, which has been establishing itself as an aggressive bank in Nepal, has offered the auto loan at 8.25 percent interest rate for the first time after the lockdown. According to his offer, the interest rate will remain stable for one year and the service charge will be only 0.25 percent.

According to a recent directive issued by the Rastra BankClass A commercial banks will be allowed to charge a service charge of up to 0.75 percent. Due to which, banks will no longer be allowed to levy invisible costs in the name of service charge.

The interest rate at a glance

Bank   Interest Rate Processing Fee
         
RBB   8.5% upto 5 yrs 0.75%
MBL   9.50% upto 10 yrs  N/A
NIC ASIA   8.25% upto 8 yrs 0.25%
SANIMA   8.25% upto 10 yrs 0.50%
SCBNL   7.59% upto 7 yrs 0.75%
SBI   8.6% upto 7 yrs 0.50%
GLOBAL IME   8.99% upto 7 yrs 0.75%
HBL   9.0% upto 7 yrs 0.50%

Interest rates are subject to change


Some development banks have also been aggressive in auto loans. Muktinath Bikas, the largest development bank in Nepal, has stated that auto loans can be given at a rate i.e. 9.98 interest rate. Similarly, Kamana Seva Vikas Bank has offered an auto loan at 10.75 percent.

An auto loan is also a priority in the banking sector as it has to make a 50 percent down payment of invoice value of the new vehicles as per the current system. Now, with the outbreak of COVID 19, liquidity in the banking sector is increasing and there is competition in auto loans.

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Compiled by : Reviewer Team Reviews

VG Suzuki Two-Wheeler Brings The Dashain Tihar Offer

27th September 2020
"The offer is available throughout the nation in VG SUZUKI Showrooms."

V.G. Automobiles Pvt. Ltd., authorized importer and distributor of Suzuki two-wheeler for Nepal, have recently introduced the Suzuki Dashain-Tihar festival scheme, "दशैँ आयो उमङ्ग छायो Cashback र बम्पर पायो ” for customers.

According to this scheme, customers can get an instant cash discount of Rs. 10,000 plus “FREE 1 Year Road Tax on purchase of any Suzuki bikes or scooters.

This offer is also available in Finance and Exchange.

VG Suzuki 2078

Under the scheme, customers can win a Suzuki Intruder bike as a bumper prize from Facebook Live every two weeks (Fortnight). 

Suzuki Intruder bike is suitable for cruising and is very comfortable to ride.

The brands being produced by the world-famous Japanese brand Suzuki are excellent and suitable for the Nepali market. 

Dhiraj Bhattarai, General Manager of VG Automobile, said that the scheme would further benefit the customers as their confidence in the Suzuki brand, which is also producing BS6 variants, is increasing.

For more information, you can visit the official page of VG Suzuki

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Compiled by : Reviewer Team Reviews

Suzuki “Parvotsav” Festival Scheme 2021 Launched

28th September 2020
"Under Suzuki “Parvotsav” the customers will be offered up to Rs 2,00,000 in Cash discount."

CG|Motocorp, the authorized distributor for Suzuki four-wheelers for Nepal and the automotive division of CG|Holdings has unveiled attractive offers focusing on Dashain and Tihar festival. Under Suzuki “Parvotsav” 2021 the customers will be offered up to Rs 200000 in Cash discount, Exchange bonus up to Rs 150000, Loyalty bonus up to Rs 20000, One year of Free Insurance, and an additional discount of up to Rs 75000. through the scratch card.

There is also a special deal on the clearance model.

Suzuki 2021

The offer will be available across all 36 Suzuki outlets across the country. The scheme details will vary according to different models.

Suzuki has the largest product breadth that includes Alto, Spresso, Celerio, Celerio X, Wagon R, Ignis, Swift, Baleno, Dzire, Ciaz, Vitara Brezza, Scross, Ertiga, XL6, Eeco, Eeco Cargo, and Super Carry.

The Scheme is offered for a limited period.
 

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Compiled by : Reviewer Team Reviews