Hire Purchase
Customers who wish to buy goods but neither willing nor able to make full payment can apply hire purchase loan. They can buy motorcycles, vehicles and parts at the dealers who are recognized by the bank.
Individuals, Businessman, Business Owner can apply hire purchase loan.
The requirements are as follows.
(A) Documents for borrower
- NRC Copy
- Copy of Household Registration
- Recommendation letter from Ward Administration Office
(B) Financial Statements
- Profit & Loss Statements and Balance Sheets for the last 3 years
- Cashflow Statement
- Receipt of income tax for the last 3 years
- Investment plan and loans repayment plan
(C) Documents related to business
- Copy of License
- Copy of Certificate of Incorporation
- Meeting minutes with letterhead
- Company Extract showing shareholder list
(D) Collateral
- Ownership documents of immovable property such as Land & Building
- Form 105/106 and other related contract documents
Documents for borrower
- NRC Copy
- Copy of Household Registration
- Recommendation letter from Ward Administration Office
- Loan tenure – 1 to 3 years
| Hire Purchase | One Year | One Year |
| Down Payment | 30% of Goods | 50% of Goods |
| Interest Rate | 9% on financing | 9% on financing |
| Service Charges | 1% on financing | 1% on financing |
| Payment Order Fees | 0.1% of Goods | 0.1% of Goods |
- Customers can make installment monthly and own goods after completion of payment.