This product is ideal for individuals or corporate customers looking for car financing. It enables you acquire a car on the principle of Ijara (lease) for rental payments. Under this arrangement the Bank purchases the car and leases it out to the customer for a period not more than 4 years. After the lease period the customer gets ownership of the car against his initial security deposit.
Jaiz Auto Ijara also features Used Vehicles!
In addition to leasing of new cars, Jaiz Bank also provides a unique opportunity of leasing second hand vehicles. This feature is designed to enable more Nigerians afford a care of their choice. This lease facility is made available at a minimum-security deposit of 30%. Financing of used cars are subject to a selection criteria.
Features and Benefits
- Product is restricted to salary account holders, schools, hospitals and business with active accounts with Jaiz.(Corporate applicants are subject to a selection criteria)
- Monthly Repayment must not exceed 30% of monthly salary.
- Employee must be confirmed staff for at least one year.
- Rental paid after delivery, not in advance
- Fastest processing and delivery
- Insurance and Tracker must be used
- Minimum security deposit as low as 15% for new vehicles & 30% for used ones
- For used cars, the model must not be older than 5 years