Retail Loan Products

Benefits:

Product Requirements:

Application Form giving the details of the applicant
Bank Account Statements for the last 6 months from the applicant’s current bank.
Quick processing and disbursement within one week
In the case of a used vehicle , original valuation reports to be obtained from Bank of Africa appointed valuers Auto assured Ltd or AA.
Certified copies of identification documents and PIN.
Copy of the log book , import documents including duty paid receipts if the vehicle is imported and not yet registered.
For salaried employees a letter is required from the employer on the terms of employment.

Features:

The Bank will finance 50-80% of the total cost with the client financing the rest.
Duration ranges from 12 to 48 months the duration being fixed at the beginning of the facility.
Interest Charged on reducing balance rate
The Vehicle is registered in the name of the client and Bank of Africa until the loan is fully paid up.
The vehicle must be fitted with approved anti-theft devices.
The vehicle must not be more than 8 years.
The vehicle must be covered with a comprehensive policy for its full value and the bank interest noted on the policy document.
The insurer must be approved by Bank of Africa.

Opening an Account
Click below to:
Print Account Opening Forms
Locate the nearest Bank of Africa branch
Send an e-mail to obtain further information