Vehicle Loan
Our Vehicle and Asset Finance (VAF) is a medium-term facility tailored for our salaried and non-salaried customers to buy movable and immovable assets, such as motor vehicles and power generators for your own use.
USD 10,000
Minimum loan amount
No Limit
Maximum loan limit
Some Benefits of Vehicle Loan
Your terms
Choose to repay your loan at the pace you're comfortable with
Self-service
Manage repayments on the go using our mobile banking app
Currency Options
Facility available in US dollars and cedis
Flexible repayment
Flexible repayment options through our salary account or direct payroll deduction
What you get
- Loan terms from 12 - 60 months. 72 months repayments for selected assets.
- Competitive interest rates
- Financing of up to 90% for new cars and 70% for used cars
- Flexible repayment options through salary account with us or direct payroll deduction by employer
How to get it
- Be a salaried permanent employee of an organization on Stanbic’s approved Lending List or Self employed with good business financial records
- Be a salaried income earner working for any of our Workplace Banking Scheme companies
- Be over 21 years and not more than 60 years on expiry of the term of your loan.
- In continuous employment for 12 months and confirmed
- Complete a loan application form and attach the following supporting documents:
- Letter of Undertaking from employer
- Pro-forma invoice from vendor/dealer (Valuation report and customs documents will be required for slightly used vehicles)
- Last 6 months bank statement (new customers only)
- Proof of Income - Last 3 months current pay slip
- Proof of Identity - Ghana Card
- Proof of Address - Utility bill not more than 3 months old
- One passport-size picture
Loan is approved subject to a positive report from credit bureau and amount is then paid to the vendor
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What you get
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How to get it
- Loan terms from 12 - 60 months. 72 months repayments for selected assets.
- Competitive interest rates
- Financing of up to 90% for new cars and 70% for used cars
- Flexible repayment options through salary account with us or direct payroll deduction by employer
- Be a salaried permanent employee of an organization on Stanbic’s approved Lending List or Self employed with good business financial records
- Be a salaried income earner working for any of our Workplace Banking Scheme companies
- Be over 21 years and not more than 60 years on expiry of the term of your loan.
- In continuous employment for 12 months and confirmed
- Complete a loan application form and attach the following supporting documents:
- Letter of Undertaking from employer
- Pro-forma invoice from vendor/dealer (Valuation report and customs documents will be required for slightly used vehicles)
- Last 6 months bank statement (new customers only)
- Proof of Income - Last 3 months current pay slip
- Proof of Identity - Ghana Card
- Proof of Address - Utility bill not more than 3 months old
- One passport-size picture
Loan is approved subject to a positive report from credit bureau and amount is then paid to the vendor