Zenith Bank Vehicle Loan

Zenith Bank Vehicle Loan

Lender

Zenith Bank

Eligibility

Vehicle Financing for New Cars to enable customers acquire new vehicles in a financially convenient manner. It is for Salaried Income Persons, SMEs & Corporates. The car dealership will offer you free vehicle registration, free car delivery within Nigeria, free servicing (first 3 services), 5 years warranty, co-advertisement of the partnership, car insurance with Zenith General Insurance

Loan Limit

Maximum Limit: No limit provided repayment does not exceed 33.3% of salary or monthly turnover

Interest Rate

Interest Rate: 18% p.a.
Management Fee: 1%

Max Tenor

The repayment period is a maximum of: 3 to 5 years

Security Required

10% minimum equity contribution. Title to the vehicle(s)

Documents Required

Customer Application Letter.
Completed Loan Application Form.

For salaried employees:
Letter of Introduction from Employer, Employee Status Enquiry/Employer confirmation and undertaking
Recent 6-months payslip/salary bank account.

For SMEs & Corporates
Company Profile, Recent Management/audited accounts, Bank statements
Personal Guarantee of a Director supported by notarized statement of net worth.
Board Resolution (For Corporates only)

Approval Time

About four days to one month from the time you submit all the required documentation

Thinking About Repayment Plan?

Calculate the monthly payment and overpayment for the loan
10 00010 000 000
160
050
 
 
 

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