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Car Loan for Public Sector
New cars
Available for public servants, including Armed Forces.
- Currency: USD
- Minimum Down Payment: 25%
- Interest Rate: 4.25% in USD
- Loan Period: Up to 5 years
- Car Insurance: All-Risk insurance up to 5 years
- Life Insurance: Free throughout the loan period
- Obligatory Insurance: Free for the first year
- File Fees: No file fees
Pre-owned/Used cars
Available for public servants, including Armed Forces.
- Currency: USD
- Minimum Down Payment:
- 25% for models 2011 and above
- 30% for models 2010 and below
- Interest Rate: 5.5%
- Loan Period:
- 2005 to 2007 models: Up to 4 years
- 2008 and above: Up to 5 years
- Car Model: 2017 and 2018
- Approved Brands:
- 2008 and older
- Only 2005, 2006, 2007: BMW, Mercedes, Land Rover, Jeep, Honda, Toyota, Nissan, Infinity, Volkswagen, Porsche, Ferrari, Maserati, and Bentley
- Car Insurance:
- All-Risk insurance up to 5 years
- Life Insurance: Free throughout the loan period
- File Fees: No file fees
What is the Annual Percentage Rate (APR)?
The Annual Percentage Rate also known as APR describes the annual rate applied on a loan for the whole period.
APR calculation includes, other than the monthly payments, all mandatory fees that clients need to pay such as the file fees, stamp fees and life insurance fees.
APR calculation excludes the late payment fees and early settlement fees.
APR calculation includes, other than the monthly payments, all mandatory fees that clients need to pay such as the file fees, stamp fees and life insurance fees.
APR calculation excludes the late payment fees and early settlement fees.
What are the fees that are calculated in the APR for the Car Loan?
PUBLIC SECTOR NEW CAR LOAN:
Example of the APR calculation for the Car Loan:- Currency: USD
- Car status: New
| Car price | Down payment | Period (years) | Rate | APR |
| USD 40,000 | USD 15,000 | 5 | 4.25% | 9.18% |
(Including insurance fees)
