Auto Installment Loan - MTB

home-installment-loan

About Auto Installment Loan

MTB Bank Auto Installment loan is designed for consumers with regular income who may find it challenging to make immediate payments for the goods they want. A consumer loan allows them to purchase these goods and pay for them over time in installments.

Types	Down Payment	Loan Amount	Service Charges	Loan Tenor	Interest Rate
Brand New	30%	70%	Up to 5 year – 3%	Max 5 year	10% to 14.5%
Pre-Owned	30%	70%	Up to 3 year – 2%	Max 3 year	10% to 14.5%

Items that can be purchased with Hire Purchase:

Brand new Car directly from the Dealer
Pre-Owned Car
Above 10 Mil electrical and home appliances with a useful life of 5 years or more.

Requirements

Basic Personal Documents

NRC
Passport Photo
Household Member List
Ward Recommendation Letter
Guarantor NRC, Passport Photo, Household Member List, Ward
Recommendation Letter

req-img

b-document

Salaried Staff

Salary Slip (minimum 3 months)/ Bank Statement (Minimum 6 months)
Employment Confirmation Letter & Staff ID Card

c-document

Self Employed

Business License/ Company Registration Documents
Financial Statement (1 year)

Products Requirement

Information about the item to be purchased (Owner Book, Premium Certificate, Wheel Tax)
Products/Goods/Vehicle Photos (Front, Back, Left, Right)
Sale Agreement

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