Many times, people want to buy luxury vehicles but their finances won’t allow. Others simply want to upgrade their old vehicles but have no sponsorship.
CalBank has tailored a pure African Auto Loaning system that gives their customers flexible payment plan, purchase of dream cars and enables them have luxury at ease.
What is CalBank auto loan
So they assist their valued clients with the needed funds to realize this lifestyle dream, because vehicle ownership is paramount to their daily activities.
The Auto Loan facility can be accessed by
- Individuals
- Professionals
- Consultants and
- Salaried workers with recognized institutions to acquire a vehicle for personal or company
What are the details of the auto loan offer?
Accessing CalBank Auto Loan facility, will give you a wide range of benefits which are
- Loan Repayment: clients are given annuity payment method. Thus, same amount is paid monthly.
- Age of Vehicle: The vehicle to be purchased is not older than five (5) years
- Tenure: The loan facility lasts for 60 months or less for repayment by clients
- Security: it is charged over vehicle to be purchased
- Personal Guarantee of applicant which will ensure that vehicle is registered and insured in the joint names of CalBank and client
- Debt Burden: Not more than 45% of income
- Pricing: GRR + Agreed Risk Premium
Arrangement and Processing fees: 3% if the total charge of the vehicle must be paid upfront) - Maximum Loan: The Bank finances up to 80% of the value of the vehicle
- Insurance: The vehicle will be comprehensively insured
- Readily available credit on a timely basis
- Flexible terms of repayment
- Prompt advisory services shall be given by a team of dedicated account managers at CalBank to clients.
Who is eligible for the auto loan offer?
Anyone who wants to be financed by the CalBank Auto Loan facility must
- Must be a salaried worker with a minimum salary of GHS 500.00.
- Must be 18 and not more than 53 years.
- Must have an employment records of 6 months or at the discretion of the credit manager providing the service.
- Must have an account at CalBank or another bank and this account should have an account history of six (6) months.Clients are required to show a bank statement indicating their account relationship with other Banks.
- Clients shall be updated on monthly loan repayment via our CalBank Alert
What are the requirements for accessing the auto loan?
Clients of CalBank who seek to enjoy from the auto loan facility must
- Possess a valid national ID like Passport, Drivers’ License, Voter’s ID Card, SSNIT Card, Ecowas Card
- Present one (1) recent passport-size picture of yourself
- Possess a proof of Residential Address like Utility Bill, introduction by a Current A/C holder of any Bank and location verification
- Have an initial deposit is GHS 500.00
- Note that the minimum balance required to earn interest is GHS 500.00
If you’re in dire need of buying your dream vehicle but do not have the funds,go through this article and contact the CalBank .
