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Application Form giving the details of the applicant |
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Bank Account Statements for the last 6 months from the applicant's current bank. |
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Quick processing and disbursement within one week |
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In the case of a used vehicle , original valuation reports to be obtained from Bank of Africa appointed valuers Auto assured Ltd or AA. |
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Certified copies of identification documents and PIN. |
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Copy of the log book , import documents including duty paid receipts if the vehicle is imported and not yet registered. |
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For salaried employees a letter is required from the employer on the terms of employment. |
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The Bank will finance 50-80% of the total cost with the client financing the rest. |
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Duration ranges from 12 to 48 months the duration being fixed at the beginning of the facility. |
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Interest Charged on reducing balance rate |
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The Vehicle is registered in the name of the client and Bank of Africa until the loan is fully paid up. |
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The vehicle must be fitted with approved anti-theft devices. |
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The vehicle must not be more than 8 years. |
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The vehicle must be covered with a comprehensive policy for its full value and the bank interest noted on the policy document. |
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The insurer must be approved by Bank of Africa. |
