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

  1. (3) License Photo (Within 6 month)
  2. NRC Copy
  3. Household list Copy
  4. Ward Recommendation (Duration 1months)
  5. Police Recommendation (Duration 1months)
  6. Source of Income (3 Months’ Salary Receipts Statements)
  7. NRC & Household list copy of two guarantors
  8. purchased Vehicle photo (Front ၊Rear ၊left & Right)
  9. Collateral contract (or) Sales contracts
  10. Dedication of the automotive trust contract
  11. Car Owner Book (Original)
  12. Premium Book
  13. Insurance Policy Agreement
  14. A copy of the Business License ၊ Company Registration Certificate
  15. Meeting Minutes