The vehicles to be purchased should be used for commercial purposes. Purpose for which loan funds can be used:

• purchase of new or reconditioned cards, pick-ups, lorries, buses and other
• vehicles for commercial use (including taxi);
• second-hand vehicles if they are in good condition.

A cash contribution of at least 25% is required on every vehicle loan. It is subject to review by the Bank.

A written inspection/valuation for vehicles is to be obtained from a qualified mechanical workshop approved by the Insurance Companies, e.g. ASCO, MOW, Si’i Kae Ola in the case of used and recondition vehicles.

The asset pledged as security e.g. vehicle must be sighted