You can purchase your dream car

A car is not always a luxury; it is a necessity in most cases. With a BK car loan, you can purchase a vehicle of your choice. The vehicle can either be new or used but should have a resale value and serviceable at the point of application. The loan is usually short to medium term in duration because of the depreciation impact on the vehicle with the passage of time. The customer is expected to comprehensively insure the vehicle during the life of the loan.

  • Deal at competitive interest rates
  • Done within 7-10 days
  • Repayable within 4-5 years
  • Still able to apply for other loan products
  • Regular monthly income that passes through the account.
  • Loan repayable over 48 months and up to 60 months for a brand new vehicle.
  • The vehicle purchased is the collateral for the loan.
  • Identify the vehicle (below ten years since manufacture)
  • Submit sale agreement and all necessary paperwork

The requirements for individual customers for vehicle loans are:

  • Completed Loan Application Form
  • Pay slips for the last 3 months(1 current pay slip for top ups)
  • Copy of valid identification documents (National ID for citizens, Passport for non-citizen)
  • Marriage certificate/ Celibacy certificate/Divorce certificate
  • Proof of your contribution by 30%
  • For loan takeover from other Financial Institution
    1. Certificate of indebtedness or Loan Certficate
    2. Bank statement for the last 6 month
  • For married customers:
    1. Copy of spouse’s National ID/Passport
    2. Upon approval of the loan, the client and his/her spouse co-sign the loan agreement; unless the marriage is under separation of property regime.
  • Employment contract(probation period completed)/ Appointment Letter
  • Salary assignment/Employer certificate confirming the account to which the salary is paid.
    1. Provisional sale agreement
    2. Proforma invoice (vehicles manufactures 10 or less)
  • Valuation report + Photos
  • Copy of the land document
  • Visit report by the Relationship officer
  • For non-citizen:
    1. Valid passport
    2. Valid work permit/Visa for the tenor of the loan;Valid work permit/Visa for the tenor of the loan
    3. Employer guarantee (required when the loan is above FRw2.5million
    4. Having been with current employer for at least two (2) years
Application Form
Checklist

Have a question? Find answers here.

Do you need advice?
Call (250) 788-143-000.