This is a consumer credit scheme which allows qualified individuals to part-finance acquisition of cars for personal use. Customers can own a car and pay over a period of time.

Features

  • Borrow N1,000,000.00 to N7,500,000.00
  • Payment over 12 to 48 months
  • Contribute as low as 20% towards the purchase
  • Comprehensive Insurance on the car for the entire loan period
  • No security required
  • Competitive pricing and no hidden charges

Benefits

  • Tracking device gives additional security and safety (Free for cars above N3milion otherwise, N50,000.00)
  • Buy a car of your choice from our list of acceptable brands and spread payment over a convenient period
  • We have reliable dealers accredited to ensure you buy from a safe source
  • Convenient insurance payment included in the loan repayment amount
  • No residual cost at end of loan tenure

Eligibility

  • Individuals in structured employment
  • Self employed individuals with regular income.

Product description

  • Designed for registered categorized & uncategorized companies interested in purchasing status vehicles for staff of their organization
  • Interested organizations are required to write to the bank, introducing auto loan beneficiaries whose salaries must be domiciled with the bank, while the beneficiary is required to duly complete the loan application form which must be submitted along with the introduction letter
  • Loan would be booked in the name the auto loan beneficiary introduced by the organization
  • Down payment and loan repayments are made by the organization on behalf of the staff
  • Down payment is calculated based on staff net monthly income

Benefits

  • It provides the opportunity for customers to own a new car of their choice with little contribution
  • Competitive interest rate
  • Installation of free tracking device for auto valued at N3, 000,000 and above
  • Graduated insurance premium which reduces with time

Features

Loan Amount

 Minimum-500,000 - Maximum-7,500,000 

Down Payment

Categorized company - 20%
Uncategorized company - 30%

Loan Tenor

Categorized company - 12 months to 60 months
Uncategorized company - 12 months to 48 months

Pricing

Highly Competitive

Insurance

Premium - 5% of asset value
Depreciation - 15%

 

 

Categorized Company - An Organisation that has been profiled based on the bank's acceptable risk criteria.
Uncategorized Company - An Organisation yet to be profiled by the bank 

Standard Auto Loan

It enables customer purchase vehicles from auto dealers who have been prequalified and have agreed an SLA with the bank

Benefits

  • It provides the opportunity for customers to own a new car of their choice with little contribution
  • Competitive interest rate
  • Installation of free tracking device for auto valued at N3, 000,000 and above
  • Graduated insurance premium which reduces with time

Features

Loan Amount 

Minimum-500,000 - Maximum-7,500,000 

Down Payment

Salaried categorized - 20%
Salaried uncategorized - 30%

Loan Tenor

Salaried categorized - 12 months to 60 months
Salaried uncategorized - 12 months to 48 months

Pricing

Highly Competitive

Insurance

Premium - 5% of asset value
Depreciation - 10%

Categorized Company - An Organisation that has been profiled based on the bank's acceptable risk criteria.
Uncategorized Company - An Organisation yet to be profiled by the bank