How can I apply for a Car Loan?
Visit your branch or call 1570, and our team will assist you.
Can I as a Business Owner/self-employed apply for a Car Loan?
Yes, it will be approved case-by-case if the income is proven.
Can I buy a car from a friend, cousin or a relative?
No, you can only buy a car from the official car dealers or from a registered car reseller company.
If I personally import a car from abroad, am I eligible for a car loan?
No, you are not eligible for a car loan.
What am I required to pay upon Car Loan execution?
You are required to pay the application fee and the stamp fee.
In case of unpaid Car Loan payment, are there any late settlement fees?
Yes, a USD 50 late settlement fee applies after a delay of 7 calendar days.
Can I settle the Car Loan early?
Yes, but an early settlement fee applies (5% of outstanding balance).
Can I choose any insurance company for the Car Loan?
No, you can only choose from approved insurance companies.
How is the Car Insurance paid?
It is paid in a single premium over the period of the policy in Fresh USD (to be paid in advance either inside or outside the Loan).