Nepal Investment Mega, Cimex ink deal on financing BYD EV

KATHMANDU, AUGUST 4: NIMB Bank Limited has lately announced a new partnership with Cimex Inc. Pvt. Ltd., the authorized distributor for BYD Auto Industry Co. Ltd., Nepal. This collaboration aims to enhance the accessibility of electric mobility in Nepal by providing up to 80% financing on all models of BYD electric vehicles (EVs).

With this, Nepali citizens interested in purchasing a BYD EV from Cimex Inc. and its authorized dealers can now apply for an auto loan at any NIMB branch. With a streamlined approval process granted within three working days, all eligible customers of NIMB can benefit from this hassle-free experience.

NIMB Bank will offer EV Loans for BYD vehicles at a competitive interest rate, set at the base rate plus a 1.00% premium per annum. This initiative is designed to make sustainable and advanced transportation options more affordable and accessible.

The partnership was formalized with the signing of a Memorandum of Understanding by Mr. Jyoti Prakash Pandey, Chief Executive Officer of NIMB Bank, and Ms. Sandhya Shrestha of Cimex Inc.

With 272 branch offices and 266 ATMs nationwide, NIMB Bank reportedly aims to enhance this initiative to help drive Nepal's shift towards a greener future.