Car Loans
ABSA Bank Car Loan
- Loan Amount: Up to 500M UGX (130,000 USD).
- Loan Term: Up to 8 years.
- Interest Rate: (Variable)
- Loan to value ratio of up to 100% for new vehicles, 85°% used cars, 75% for auto equity.
- Loan repayment periods of up to 8 years
- Loan amounts of up to 500,000,000/- UGXX / USD 130,000
- Minimum income required: UGX1,000,000 or USD1,500 for USD loans
- The vehicle should not be more than 10 years old
- Available to salaried customers from our vetted list and to self-employed persons
- Proforma invoice from supplier.
- Passport / National ID.
- Appointment letter/Contract.
- Proof of income (3 recent salary slips)
- Bank Statement (12month)
- Loan statement.
- Financial card.
- E-Tax Number. (TIN Number)
- Comprehensive insurance cover of 4%
- Vehicle asset arrangement fees of 2%
- Valuation fees are tiered to the value of loan
Centenary Bank Car Loan
- Loan Amount : Up to 100 % of the vehicle’s value.
- Loan Term : Up to 60 months
- Interest Rate: (Variable)
- Purchase used or new car/ vehicle
- Loan amount of upto 100 % of the vehicle’s value.
- Fexible repayment terms 12-60 months
- Competitive tailored loan rates.
- Vehicle being financed acts like security
- Ug Citizen. / Resident.
- Stable income.
- Good credit History.
- Review credit Report.
- Prepare needed documents.
- Minimum age required is 18 years
- Assess affordability
- Read through loan terms.
Vehicle and Asset Finance Loan
- Loan Amount: Minimum value of asset that can financed vary from UGX 1M to UGX 15BN or USD equivalent
- Loan Term : 72 months
- Interest Rate : 10% for Women enterprenuers, 16% for salaried customers 17% for self employed customers.
- Minimum value of asset that can financed vary from UGX 1M to UGX 15BN or USD equivalent
- Minimum finance Tenor 12months, Maximum 72months
- UGX interest rate 10% for Women enterprenuers, 16% for salaried customers
17% for self employed customers. - Car has to be of good and marketable quality
- Reputable supplier.
- Not overpriced
- CFAO mobility
- The bank can grant the customer an Insurance Premium Finance (IPF) facility to cater for the upfront Insurance premium payment.
- Repayments are structured to match the cash flow of your business for instance. monthly, quarterly, termly, semiannually, and annually.
- One does not have to be a customer to qualify for Asset Financing. However, you will be required to open up an account with dfcu on approval of the facility.
- Individuals who can practically demonstrate a steady source of regular income.
- Properly established businesses, sole proprietors companies, partnerships, investment clubs, and Women in Business with steady cashflows to meet the instalment payments.
Asset Finance Loan
- Loan Amount : Based on the customer’s ability to pay.
- Loan Term : Up to 60 months
- Interest Rate: (Variable)
- Loan amount is based on the customer’s ability to pay.
- Loan Period is up to 60 months (5 years) for second hand vehicles and up to 120 months (10 years) for brand new vehicles.
- Financing Margin – up to 100% financing.
- Three original latest payslips
- 2 Copies of the ID & PIN certificate
- An Introduction/Appointment/Confirmation letter from the employer
- Duly signed authorization forms
- Duly completed loan application and appraisal form
- Pro forma Invoice / Sale Agreement
- Valuation Report
- Original Log Book
- Bank must have MOU with the customer’s employer.
- Ability to effect loan deductions on check-off.
Car and Asset Loan
- Loan Amount : Up to UGX 300M
- Loan Term :Up to 60 months
- Interest Rate: (Variable)
- Compelitive Interest Rates.
- Flexible repayment Terms
- Quick processing.
- Security; leased asset is main security
- Loan Term is up to 60 months
- Medium term finance; normally 5 year lease period
- Minimal or no collateral required
- Valid I.D
- Active account with Housing finance
- Proof of income
- Good credit history
- Down payment ranging between 10% and 30%
Stanbic Bank Car Loan
- Loan Amount :
- Loan Term :
- Interest Rate : Variable
- Affordability : The best interest rates in the market.
- Flexible repayments arranged to suit your cash flow.
- Affordable complimentary insurance from our trusted partners.
- Access to our accredited vehicle and equipment suppliers.
- Appointment letter and pay slips for past 3 months
- Undertaking from the employer that salary will continue to be remitted through the Stanbic account
- Proof of benefits received if this is the source of repayment (if transport/ car allowance is provided for in a separate document other than the appointment letter)
- Copy of Financial card
- Proforma invoice for the required vehicles
- Down Payment of up to 20% of the cost of the vehicle or asset.
- Prime +margin interest rates.
- 2% of the Loan Amount arrangement fees.
Asset Finance Loan
- Loan Amount :
- Loan Term : Up to 36 months.
- Interest Rate: (Variable)
- Affordable interest rates
- Flexible repayment period of up to 36months
- Asset based security
- Eligibility. (Available to various customer segments, including coperate Banking, SME Banking, and Consumer Banking clients)
Recquirents (Individuals)
- 2 passport photos
- National Identity card/ Passport
- Proof of Income. (Bank statements, pay slips)
Recquirents (Companies)
- Passport sized photos
- National I.D
- Company registration docs.
- Valid trading license
- Latest Audited financial statements Bank Statements(6 months)