Auto Loan
Buying a dream car can be both tedious and complicated. Because vehicle ownership is paramount to the daily activities of our clients, we assist our valued clients with the needed funds to realize this lifestyle dream. Auto Loan is a credit facility designed for our clients to purchase any vehicle of choice.
Mortgage
Qualified clients have the opportunity to access loans to acquire their preferred homes. Our Mortgage is a retail product tailored to meet the mortgage needs of our clients. It can also be accessed for Home Completion, Home Improvement and Equity Release.
Our Auto Loan facility can be accessed by Individual, Professionals, consultants and salaried workers with recognized institutions to acquire a vehicle for personal/company use.
- Loan Repayment: Annuity payment Method (Same amount is paid monthly)
- Age of Vehicle: The vehicle must not be older than five (5) years.
- Tenure: 60 months or less.
- Security: Charge over vehicle to be purchased.
- Personal Guarantee of applicant
- Provident Fund if any.
- Vehicle shall be registered and insured in the joint names of and client.
- Debt Burden: Not more than 45% of income.
- Pricing: Base Rate + Agreed Margin.
- Arrangement and Processing fees: 3% (to be paid upfront).
- Maximum Loan: The Bank finances up to 80% of the value of the vehicle.
- Insurance: The vehicle will be comprehensively insured.
- Readily available credit on a timely basis.
- Flexible terms of repayment.
- Prompt advisory services shall be given by a team of dedicated account managers.
- Minimum Salary: $ 500.00.
- Age: 18 – 53 years.
- Employment Records: 6 months or at the discretion of the credit manager.
- Account History: Six (6) months Bank Statement is required from clients with account relationship with other Banks.
- Clients shall be updated on monthly loan repayment via our Alert.
- Account Relationship: The qualified client must be an account holder to access the facility.
- How to Apply for Auto Loan: The client should complete the Auto loan application form.
- Security: Security required may include the vehicle to be purchased, Provident Fund, Landed Property and Employer’s Guarantee, Near Cash Securities, Shares, Warrants, etc.