Transport Loan
- Condition for Individual Transport Owner:
- Account must be operated for a minimum period of six (6) months. However, customers with good turnover from other financial institutions may be considered after three (3) months.
- The customer shall provide 20-50% of the cost of the vehicle as cash lien.
- Collateral in the form of movable or non-movable properties may be considered as security.
- The vehicle shall be comprehensively insured to cover the entire duration of the facility and the Bank shall be the “Loss Payee”.
- Vehicle tracking device shall be installed in the vehicle.
- The vehicle shall be registered in the sole name of the Bank.
- Condition for organized Union(s):
- Account must be operated for a minimum period of six (6) months. However, unions with good turnover from other financial institutions may be considered after three (3) months.
- The customer shall provide 20-30% of the cost of the vehicle as cash lien.
- The union shall provide an irrevocable contract of indemnity in support of the facility.
- Collateral in the form of movable or non-movable properties may be considered as security.
- The vehicle shall be registered in the joint name of the Bank and the Union.
- The vehicle shall be comprehensively insured to cover the entire duration of the facility and the Bank shall be the “Loss Payee”.
- Vehicle tracking device shall be installed in the vehicle.