It is a loan facility that is given when one wants to purchase an automobile for personal or business purposes.

Features

• - Attractive interest rates

• - 1-2 weeks processing period

• - Payment period: 3 years for 2nd hand vehicles and 4 years for brand new vehicles

• - Exposure to other loan facilities

Requirements

• - Application letter

• - Employment contract/ service certificate

• - Salary certificate

• - Provision sale contract in case you want to purchase vehicle from someone

• - Proforma invoice

• - Photos of the vehicle

• - Yellow card copy/carte joune

• - Proof of 30% participation

• - ID copy of the client and spouse

• - Request forms

• - Bank offers 70% and client participates up to 30%

• - Repayment capacity of the client’s total income

• - Loan certificate (if it is to buy another loan from another Bank)

FAQ’s

Who is illegible?

Anyone is legible but we consider ones payment capacity

How is interest charged?

We charge interest on a yearly basis but its split out and paid every month for the period given.

If the loan facility given runs out, can it be renewed?

Yes, it can be renewed as long as we are content with your payments.

If am unable to clear my loan within the stated time, are you able to give me an extension?

Yes, we can as long as you notify us in advance. If we offer you an extension it can’t be beyond the maximum period provided and we also have to consider your payment.