NIC Asia Bank Auto Loan interest rate 2083
NIC Asia Bank's auto loan is priced at 5.82%–8.57% effective in Bhadra 2083: a 5.57% base rate plus a 0.25%–3% premium. That ranks 13th cheapest of the 18 commercial banks we track for this product. On Rs. 10 Lakh over 60 months the EMI is about Rs. 19,249, plus a 1% processing fee.
- Effective rate
- 5.82% – 8.57%
- Base rate
- 5.57%
- Premium
- 0.25% – 3%
- Processing fee
- 1%
- Maximum tenure
- 84 months
- Maximum loan-to-value
- 50%
- Rank by rate
- 13 / 18
- Rates effective
- Bhadra 2083
Effective from: 1 Bhadra 2083Source: www.nicasiabank.com/interest-rates/
NIC Asia Bank Auto Loan: effective rate 5.82%, EMI from Rs. 19,249 per month. Compare with 17 other banks.
Rate breakdown
Base rate
5.57%
Premium
0.25%–3%
Effective rate
5.82%–8.57%
Fixed
5.99%–7.49%
- Processing fee
- 1% (Min Rs. 2,000)
- Prepayment penalty
- 1.42%
- Fixed-rate terms
- Private vehicle 5.99% · electric (green plate) 7.49%
- Loan amount
- Rs. 2 Lakh – Rs. 1.5 Cr
- Tenure
- 12 – 84 months
- Max financing
- 50%
- Age
- 21 – 65 years
Highlights
- Cars, bikes, scooters and EVs
- EV financing up to 80% LTV
- Insurance bundling
Who is eligible
Minimum 6 months in current job or 2 years in business. EVs allowed higher LTV per NRB.
Documents you will need
- Citizenship certificate (copy)
- 2 passport-size photos
- Latest 6 months bank statement
- PAN card
- Vehicle quotation from dealer
- Driving licence
NIC Asia Bank Auto Loan FAQ
What is NIC Asia Bank's current Auto Loan interest rate?+
NIC Asia Bank's Auto Loan floating rate is base rate 5.57% plus a premium of 0.25% to 3%, giving 5.82% to 8.57% effective from Bhadra 2083.
What is the EMI on a Rs. 10 Lakh Auto Loan from NIC Asia Bank?+
At 5.82% over 60 months, the EMI is roughly Rs. 19,249. Use the calculator above to change the amount or tenure.
Can I prepay a NIC Asia Bank Auto Loan?+
Yes. The published prepayment charge is 1.42% of the outstanding balance. Confirm with the branch, as some banks waive it after a minimum period.
