Hire Purchase
Bank Financing is an easy and convenient repayment plan that provides you with a convenient repayment plan without the cost of capital to buy your used car.
Terms
- Down Payment (35%)
- Loan Period (Car - 2 years)
- Non-movable material (Apartment - 3 years)
The interest rate
- 9% for one year
- 5% for 2-year term
- 5% for 3-year term
Bank Service Fee
- P.O Commission (0.1%)
- Services Charges (1 year) 1% (yearly fees charges)
REQUIREMENT DOCUMENTS FOR OPENING ACCOUNT
- (3) License Photo (Within 6 month)
- NRC Copy
- Household list Copy
- Ward Recommendation (Duration 1months)
- Police Recommendation (Duration 1months)
- Source of Income (3 Months’ Salary Receipts Statements)
- NRC & Household list copy of two guarantors
- purchased Vehicle photo (Front ၊Rear ၊left & Right)
- Collateral contract (or) Sales contracts
- Dedication of the automotive trust contract
- Car Owner Book (Original)
- Premium Book
- Insurance Policy Agreement
- A copy of the Business License ၊ Company Registration Certificate
- Meeting Minutes