Asset Financing
Loan Products
This is a loan extended to a member inform of an asset and legal ownership moves to the member upon loan settlement.
Characteristics of Asset Finacing
This is a loan extended to a member inform of an asset and legal ownership moves to the member upon loan settlement.
| Characteristic | Description |
|---|---|
|
Maximum Loan amount |
50,000,000 for strictly salary earners. |
|
Maximum Loan period |
48 months |
|
Repayment frequency |
Monthly or lump sum |
|
Loan Interest |
15% p.a |
|
Special Conditions |
1. One must have contributed 30% of the Purchase price in savings. 2. For this product, we shall stay 10.20% rule. 3. The Certificate of title/ log book will be used as se- curity for this loan product. Caveats will be instituted on the security. |