Vehicle Loans
Vehicles wholly for private use require 25% equity. Minibuses and Business vehicles require 75% equity. Vehicles originally purchased for private use and later converted to business within the loan term requires additional contribution to equity.
- Interest rate is 12%.
Rates and other terms are subject to change from time to time without notice.
Requirements
Documents
- Insurance Premium invoice
- Vehicle Valuation
- Mechanical Report (Reconditioned Vehicles)
- Vehicle Registration
- Employment letter
- Current Salary slip
- Last 2 years Financial Statements (Self-employed)
- Photo identification
Collateral
- 25% Deposit (private vehicles)
- 75% Deposit (passenger vans/taxis)
- Comprehensive insurance
- Bill of sale
