Interest Rate
low as 6%
Loan Ceiling
up to 1.5 million
Loan Term
up to 60 months
Qualifications
- Vehicle must be comprehensively insured for the life of the loan.
- Vehicle must be used as security for the loan.
- Member must produce last three (3) months pay advices/ certified proof of income; Government Identification and TRN; any utility bill.
- Member must be in good standing with the Credit Union, that is, no delinquency within the last six (6) months ; and saving continuously for at least six (6) months.
Requirements
- Pro-forma Invoice / Sales Agreement.
- A Valuation Report must be done by a certified Valuator and must accompany the application.
- Motor Vehicle Title.
- Certificate of Fitness.
- Registration Certificate.
- Cover Note / Insurance Certificate.
- Custom Entry Form ( Import Entry), where applicable.
- Waiver Letter from Trade Board.
- Title owner’s ID & TRN.
- Bill of Sale.
