Bank of Africa - Kenya - Business Motor Loan

Business Motor Loan

Benefits:

	Competitive Interest Rates.
	Flexible Interest Instalments matched to your Business Cash Flow
	Quick Processing and Disbursement within one week after all requirements have been met
	Enables you to use the vehicle to generate cash flow for its purchase

Product Requirements:

	Application Form giving the details of the applicant
	Bank Account Stataements for the last 6 months from the applicants current bank.
	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 reciepts 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 totoal 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 insurer must be approved by Bank of Africa.
	The vehicle must be covered with a comprehensice policy for its full value and the bank interest noted on the policy document.
	The vehicle must not be more than 8 years.

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Bank of Africa Kenya © 2009

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