Rate pre-filled with today's median starting car loan rate across 37 banks (5.68%). The lowest starting rate is 4.55% (Agricultural Dev. Bank). Compare every bank on the car loan rates page.
Car loan EMI by bank
EMI for Rs 24,00,000 over 5 years at each bank's published starting rate and at the top of its range. Updates as you change the calculator.
| Bank | Rate (from – to) | EMI at starting rate | EMI at top of range |
|---|---|---|---|
| Agricultural Dev. Bank | 4.55% – 6.55% | Rs 44,798 | Rs 47,015 |
| Prime Commercial Bank | 4.87% – 9.87% | Rs 45,148 | Rs 50,840 |
| Nepal Bank Limited | 4.91% – 6.91% | Rs 45,192 | Rs 47,421 |
| Citizens Bank Int'l | 4.97% – 7.47% | Rs 45,258 | Rs 48,057 |
| Excel Bikas Bank | 4.99% – 8.99% | Rs 45,280 | Rs 49,808 |
| Nepal Investment Mega Bank | 5.05% – 7.05% | Rs 45,346 | Rs 47,580 |
| NABIL Bank | 5.16% – 7.16% | Rs 45,467 | Rs 47,704 |
| Everest Bank | 5.18% – 7.18% | Rs 45,489 | Rs 47,727 |
| Rastriya Banijya Bank | 5.36% – 6.01% | Rs 45,688 | Rs 46,410 |
| Machhapuchchhre Bank | 5.43% – 7.43% | Rs 45,765 | Rs 48,011 |
| Kamana Sewa Bikas Bank | 5.46% – 10.46% | Rs 45,798 | Rs 51,538 |
| Lumbini Bikas Bank | 5.46% – 9.46% | Rs 45,798 | Rs 50,358 |
| Shine Resunga Dev. Bank | 5.47% – 9.47% | Rs 45,810 | Rs 50,369 |
| NMB Bank | 5.51% – 7.51% | Rs 45,854 | Rs 48,102 |
| Shangrila Development Bank | 5.57% – 9.56% | Rs 45,920 | Rs 50,475 |
| Himalayan Bank | 5.59% – 7.59% | Rs 45,943 | Rs 48,194 |
| Global IME Bank | 5.64% – 7.64% | Rs 45,998 | Rs 48,251 |
| Jyoti Bikas Bank | 5.64% – 10.64% | Rs 45,998 | Rs 51,752 |
| Mahalaxmi Bikas Bank | 5.68% – 9.43% | Rs 46,042 | Rs 50,322 |
| Garima Bikas Bank | 5.72% – 7.72% | Rs 46,087 | Rs 48,342 |
| Laxmi Sunrise Bank | 5.94% – 7.94% | Rs 46,332 | Rs 48,594 |
| Manjushree Finance | 5.94% – 9.94% | Rs 46,332 | Rs 50,922 |
| NIC Asia Bank | 5.94% – 7.94% | Rs 46,332 | Rs 48,594 |
| Prabhu Bank | 5.94% – 7.94% | Rs 46,332 | Rs 48,594 |
| Siddhartha Bank | 5.99% fixed | Rs 46,388 | – |
| Gurkhas Finance | 6.21% – 5.00% | Rs 46,633 | Rs 45,291 |
| Sanima Bank | 6.21% – 8.21% | Rs 46,633 | Rs 48,905 |
| Kumari Bank | 6.42% – 8.42% | Rs 46,869 | Rs 49,147 |
| Muktinath Bikas Bank | 6.52% – 8.52% | Rs 46,981 | Rs 49,263 |
| Pokhara Finance | 6.59% – 11.59% | Rs 47,060 | Rs 52,891 |
| ICFC Finance | 6.79% – 8.79% | Rs 47,285 | Rs 49,576 |
| Reliance Finance | 6.85% – 8.60% | Rs 47,353 | Rs 49,355 |
| Nepal SBI Bank | 6.99% fixed | Rs 47,512 | – |
| Sindhu Bikas Bank | 7.25% – 12.25% | Rs 47,806 | Rs 53,690 |
| Progressive Fin. Co. | 7.33% – 10.33% | Rs 47,897 | Rs 51,383 |
| Nepal Finance | 7.36% – 4.00% | Rs 47,932 | Rs 44,200 |
| Janaki Finance Co. | 9.80% – 14.40% | Rs 50,757 | Rs 56,343 |
Year-by-year schedule
| Year | Principal paid | Interest paid | Balance left |
|---|---|---|---|
| Year 1 | Rs 4,27,197 | Rs 1,25,312 | Rs 19,72,803 |
| Year 2 | Rs 4,52,104 | Rs 1,00,406 | Rs 15,20,699 |
| Year 3 | Rs 4,78,462 | Rs 74,047 | Rs 10,42,237 |
| Year 4 | Rs 5,06,358 | Rs 46,152 | Rs 5,35,879 |
| Year 5 | Rs 5,35,879 | Rs 16,630 | Rs 0 |
Quick EMI table
| Loan amount | 3 years | 5 years | 7 years |
|---|---|---|---|
| Rs 3 lakh | Rs 9,083 | Rs 5,755 | Rs 4,337 |
| Rs 10 lakh | Rs 30,277 | Rs 19,184 | Rs 14,456 |
| Rs 15 lakh | Rs 45,416 | Rs 28,777 | Rs 21,683 |
| Rs 20 lakh | Rs 60,554 | Rs 38,369 | Rs 28,911 |
| Rs 25 lakh | Rs 75,693 | Rs 47,961 | Rs 36,139 |
| Rs 30 lakh | Rs 90,831 | Rs 57,553 | Rs 43,367 |
Start with the down payment
For any private vehicle, petrol, diesel or electric, NRB caps the loan at 60% of the vehicle's value. On a Rs 40 lakh car the most you can borrow is Rs 24 lakh; a Rs 5 lakh motorbike can be financed up to Rs 3 lakh. Registration, insurance and the bank's fees come on top. Details in the car loan guide.
5 or 7 years?
Most banks offer 5 to 7 years for a private vehicle. The 7-year EMI is lower, but the table above shows how much more interest it costs. A car also loses value every year, so a shorter loan keeps what you owe closer to what the car is worth.
EV loans
Private EVs follow the same 60% rule, and several banks run dedicated EV loan products, some on fixed rates. See the EV loan guide for the current list.
Other calculators: home loan EMI · education loan EMI · personal loan EMI · all loans · FD and other calculators