Hire Purchase Loan

Ace offers Hire Purchase Loans to companies for the following purposes:
o Purchase of machines & equipments
o Purchase of commercial vehicles

Who can apply?
The loan can be provided to a company duly registered in Nepal having a valid registration certificate.

Tenure
Depending upon the type/nature of machine/equipment/vehicle, the tenure can be up to a maximum of 7 years.

Security
The machine/equipment/vehicle shall be registered in the name of Ace and must be comprehensively insured to cover risks such as accident, fire, theft and other hazards. In case of vehicle, it must also be insured against third party risks. Collateral in the form of land and/or building or other fixed assets may be required additionally. Other forms of security may be accepted upon terms and conditions.

Transaction size
Minimum loan amount is Rs. 5,00,000

Interest rate
9% - 14% per annum, conditions apply
Interest rates will be periodically reviewed to be in line with the market.