Vehicle loan to Government Employee

Now government employees have access to easy loans on attractive terms to buy their own four/two wheeler. This is an opportunity for them to make the life of their loved ones more comfortable.

Eligibility

Regular Government employee who completed one year of probation.

Quantum

60% of the cost of vehicle if the invoice value is less than Nu.800,000 and 50% of the cost of vehicle if the invoice value is more than Nu.800,000.

Interest Rate

9.80% (Floating)

Tenure

  • 5 years

  • Second hand vehicle – 3 years

Required Documents

  • Vehicle Loan Application duly filled by the applicant

  • Copy of CID of both the applicant and guarantor

  • One recent Passport size photograph of the applicant

  • Copy of the Quotation/Invoice for new vehicles from authorized vehicle dealers

  • An irrevocable letter of authority from the applicant to his employer for deduction of monthly loan installment from salary

  • An irrevocable letter of authority from the employer to deduct the monthly loan installment from salary of applicant and remit to bank

  • Latest Pay Slip of the applicant(s) dully filled, signed and sealed by salary disbursing officer & recommendations

  • Call us on: 1095
  • Write to us at: [email protected]
  • Request Callback:+975