Transportation Loans

TERMS & CONDITIONS

WE PROVIDE LOANS WITH AFFORDABLE PAYMENT TERMS

Loans are for the following and subject to the terms and conditions in the table below:

• Trucks and other heavy duty transport vehicles.
• Vehicles for use in the distributive trade.
• Vehicles for technical and professional persons for use in the pursuit of their trade or profession.

NEW

VEHICLE

8.5-9.5%

INTEREST RATE

EQUITY
20% of the cost, plus comprehensive motor insurance. If owner driven - 15% of the cost, plus comprehensive motor insurance.
TERM
Max. 7 years for buses and other light vehicles. 10 years for trucks and heavy duty vehicles.

1-3 YEARS OLD

VEHICLE

9.5-10.5%

INTEREST RATE

EQUITY
25% plus comprehensive motor insurance.
TERM
Max. 5 years for buses and other light vehicles. 8 years for trucks and heavy duty vehicles.

3-5 YEARS OLD

VEHICLE

10.5-11.5%

INTEREST RATE

EQUITY
30% plus comprehensive motor insurance.
TERM
Max. 4 years for buses and other light vehicles. 5 years for trucks and heavy duty vehicles.

OVER 5 YEARS

VEHICLE

11.99%

INTEREST RATE

EQUITY
35% plus comprehensive motor insurance.
TERM
Max. 3 years for buses and other light vehicles. 4 years for trucks and heavy duty vehicles.

FINANCIAL DECLARATION FORM GENERAL LOAN APPLICATION FORM APPROVED LIST OF APPRAISERS