Asset Finance
This is a short to medium term loan for the acquisition of an asset. The asset acquired also serves as the collateral for the facility until the loan is fully repaid
FEATURES
- Monthly repayment
- Highly competitive interest rate
- Quick access to facility
- Maximum tenor of 12 months
ELIGIBILITY
- Borrower must have an account with the bank
- Borrower must have a regular source of income
- Borrower must be between the age of 18 and 65 years
REQUIREMENTS
- Duly completed loan application form
- Provision of a valid means of identification of the borrower and guarantors
- Recent utility bill not more than 6 months
- Two recent passport photographs of borrower and guarantors
- Six months bank account statement up to application date of the borrower and guarantors
- 30% equity contribution
- Two eligible guarantors
- Two duly signed cheque leaves of the borrower and guarantors
