Car Loans
ABSA Bank Car Loan
Featured
- Amount: Up to 500M UGX (130,000 USD).
- Loan Term: Repayment period of up to 8 years.
- 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
Stanbic Bank Car Loan
- Drive the car of your dreams with affordable, flexible loan repayment and complimentary insurance packages.
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.