In 2017, NIU launched electric scooters for the first time ever in Nepal, and thus, a revolution silently rolled onto the streets of Nepal. The popularity of NIU’s no-noise, sustainable, and performance-packed electric scooters has painted the Nepali streets green, with more and more consumers looking for electric mobility options.
If you are here reading this blog, you probably are seeking to buy a NIU electric scooter. Maybe to reduce your petrol costs or to be environmentally-conscious of your traveling choices. Whatever the reason might be, we understand that spending a hefty amount at once, is not a thing everyone would want to do. There is a solution for this – EMI (Equated Monthly Installments), where you buy a NIU scooter and pay in installments by spreading the cost over a comfortable period of time.
In this blog, we will talk about all the EMI details you will need to buy a NIU scooter.
The Convenience of EMI Payments
EMI allows you to break down the total cost of the scooter into manageable monthly installments, making it affordable for a broader audience. With EMI, you can ride a high-quality NIU scooter without straining your finances.
One of the primary advantages of opting for a NIU scooter with EMI is the flexibility it offers. You can choose a payment plan that suits your financial situation, making it easier to own a scooter that suits your lifestyle. Plus, by switching to an electric scooter, you’ll save on fuel costs and maintenance in the long run, making it an even more financially sound decision.
EMI Details for NIU Scooters in Nepal
Now, let’s take a closer look at the intricate details of EMI options when it comes to buying a NIU scooter in Nepal.
Down Payment and Financing
To make owning a NIU scooter even more accessible, NIU offers a financing option that allows only a minimum 20% down payment and the remaining 80% of the scooter’s cost can be conveniently financed through EMI, making it possible for you to become the proud owner of a NIU scooter with just a minimal upfront investment. This approach ensures that you can start enjoying the benefits of eco-friendly commuting without a significant initial financial burden.
Loan Tenure
The loan tenure or the payment duration is another aspect worth mentioning. For NIU models that come with a 2-year warranty, you have the option of selecting a 2-year payment plan, allowing you to choose a loan period of up to 2 years. Conversely, if you opt for a 4-year warranty model, you can select a 4-year payment plan or even shorter if you prefer. This flexibility empowers you to customize your EMI experience based on your financial preferences and capabilities.
Here’s a table summarizing the NIU models available, along with their respective warranty periods and loan tenures:
| NIU Model | Warranty Period | Loan Tenure |
| NQi GT | 2 yrs | 2 yrs |
| MQi+ Sport | 4 yrs | 4 yrs |
| Gova 03 | 2 yrs | 2 yrs |
| UQi GT | 2 yrs | 2 yrs |
| MQi GT | 2 yrs | 2 yrs |
| Gova F600 | 2 yrs | 2 yrs |
| NQi Sport | 4 yrs | 4 yrs |
Interest Rates
Base rate of the bank +2%
Base rate of the bank may change as per the rate defined by Nepal Rastra Bank (NRB)
Financing Partner – NIMB
The EMI process for purchasing a NIU scooter will be seamlessly facilitated by NIU’s Financing partner, Nepal Investment Mega Bank Ltd. (NIMB). With NIMB Bank as your financing partner, you can expect a smooth and hassle-free EMI process.
How to Apply for EMI on NIU Scooters
Applying for EMI on NIU scooters is a simple and hassle-free process. Here’s a step-by-step guide to help you get started:
Choose Your NIU Model
Begin by selecting the NIU scooter model that best suits your needs and preferences.
Visit a NIU Authorized Showroom
Locate a NIU authorized showroom in Nepal. They will guide you through the EMI application process.
Visit our showrooms
Submit Required Documents
You will need to provide necessary documents such as your citizenship card for ID proof and address proof, your salary statement and PAN card and statement from your work for income proof, and other supportive documents such as personal guarantee of a family member. NIU representatives will also provide you with a quotation for the scooter model you have selected.
Fill Out the Application Form
Complete the EMI application form provided by the sales representative. Make sure to provide accurate information.
Review Terms and Conditions
Carefully review and understand the terms and conditions of the EMI agreement.
Select Your Loan Duration
Choose a loan duration that is fit for you.
Make the Down Payment
Pay the minimum 20% or more down payment to initiate the EMI plan.
Wait for Approval
Your EMI application will be processed by the bank, and upon approval, you can take ownership of your NIU scooter.
Conclusion
Owning a NIU scooter has never been this easy! Book a consultation today at your nearest NIU showroom to get started with your EMI process.
Frequently Asked Questions (FAQs)
Is there a down payment required for purchasing a NIU scooter with EMI in Nepal?
Yes, a minimum 20% down payment is required, with the remaining 80% financed through EMI.
What is the maximum loan tenure for NIU scooters with EMI in Nepal?
The loan tenure varies based on the warranty period of the NIU model. You can choose a maximum of 2-year payment plan for NIU models with 2 years warranty and a maximum of 4-year payment plan for NIU models with 4 years warranty.
Is EMI available for all NIU scooter models in Nepal?
EMI options are generally available for most NIU scooter models in Nepal.
What are the interest rates for EMI on NIU scooters in Nepal?
Interest rates may vary based on your chosen loan tenure and financing terms. It’s best to consult with NIMB Bank or NIU sales representatives for the current interest rates.
Can I prepay my NIU scooter EMI in Nepal?
Yes, you can prepay your EMI without any penalties, helping you clear your debt faster.