This is a product designed to finance acquisition of automobile for salary account holders in public and reputable private organizations. The financing is based on the concept of cost plus mark-up. The Bank purchases the vehicle and sells to the customer with reasonable markup (otherwise called profit) on a deferred payment basis.
Payment for the vehicle sold to the customer is usually on monthly basis from the customer's salary for a period of 3 to 4 years.
Features
- Salary domiciliation
- Maximum tenor is 48 months (4 years)
- Easy application process
For further enquiries on any of our products and services kindly contact us on 07007730000 or email us: [email protected]
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