Personal Vehicle Loans

Service/Product Target (Who Is The User In Mind)

Business and salaried customers who want to purchase brand new/ second hand and reconditioned vehicles

Product Attributes/ Features: How Does The Product Work?

• Max - Dependant on financial capacity of the customer
• Maximum repayment period of 36 months for reconditioned and second hand, 48 months for brand new vehicles
• Second hand vehicles should be less than 5 years.
• Reconditioned vehicles should be less than 10years
• Accessible by NBM and non NBM customers.

Costs To Access The Product

• Minimum interest rate of RBM reference rate +10.1% pa
• 1% arrangement fees of the consideration plus VAT
• 0.6% stamp duty of the consideration plus VAT

How To Access Product

Available to NBM account and non NBM account holders in confirmed employment.

• Fill a credit application form
• Submit latest pays lip
• Submit letter of undertaking from employer.
• Copy of valuation report – for second hand or recondition vehicles.
• Copies of import documents (Custom Clearance and Police Clearance Certificate) for newly imported vehicles
• Invoice from supplier
• Bank statement for at least 12 month if account is held with other banks.

Terms and Conditions

Customer to provide for monthly repayments