Facility has been designed b to assist individuals purchase brand new/second hand vehicles. 

• Salaried Employees including:
• Non Resident Malawians with Foreign Currency Denominated Accounts
• Foreign Nationals with Permanent Residence
  .

   

• Up to 36 months for second hand vehicles
• Up to 48 months for new vehicles
• Second hand vehicle not to be more than 8 years old by end of repayment period.

• Up to 30% of net pay

• Lease or Bill of sale over vehicle.
• Tradable securities other than shares e.g. Treasury Bills
• Charge or Legal mortgage over property

• Reviewed at Bank's discretion but currently:
• Base Rate plus 4%
• Base Rate plus 5% for SMEs
• Arrangement fees:1% the amount financed, borne by applicant subject to change at bank's discretion from time to time. 

• Pay slip not more than 30 days old
• Copy of Employment contract if applicable
• Water/Electricity bills not more than 2 months old
• Vehicle garage report by dealers or reputable garage if second hand   vehicle,  physically inspected  by  at least  two Bank Officials  one of them a Manager and ADV 10 securities completed
• Valid driver's license
• Vehicle registration certificate in vendor's name.
• Vehicle to be comprehensively insured preferably under the Bancassurance scheme.
• Offer by seller in writing or owner of the vehicle. No agents unless Power of Attorney is held and seen.
• Sanctioned letter acknowledged by customer.
• Motor Vehicle Registration Certificate endorsed with NBM interest before documents sent to legal(if Bill of Sale)
• Latest Financial Statements