Terms and conditions
Amount of the loan
Over $50,000 on case by case bases
For a new car: the bank grants a maximum of 80% of the new cars net price.
For a used car: the bank grants a maximum of 60% of the used cars net price.
For a new car: 4.9% during the whole period of the loan.
For a used car 6.9% during the whole period of the loan.
For a new car: up to 5 years maximum.
For a used car: up to 3 years maximum.
Monthly, according to a schedule.
For employees: maximum of 1/3 of the net monthly salary.
For a self employed: maximum of ¼ of the net income.
10,000 L.L in stamp charges for every contractual year.
$25 payable only once when the loan is granted.
For bachelors (singles): Minimum net monthly income of 600,000 L.L
For married persons: Minimum net monthly income of 900,000 L.L
A 1st class mortgage to the bank throughout the whole period of the loan.
An all risk insurance policy covering the entire period of the loan, with a company approved by the bank.
N.B: No need for a car mortgage if there is cash collateral.
A 24 h free road service is available throughout the year, offering you assistance whenever you need it.
Should be at least 25% of the outstanding balance on the payment date. When this exceeds $200, a commission of 2% will be charged.
In case the interest to be returned to customer is less than $200 it will be kept by the bank as partial commission.
Late Payment Interest: