Auto Loan

Auto Loan

We can help you finance the purchase of your dream car with the Sterling Auto Loan. It is available to everyone with a regular monthly income.

Features

  • Only brand new cars are financed
  • Maximum tenor of 48 months with competitive pricing
  • 20% equity contribution
  • Tracking device installation and comprehensive insurance

Requirements

  • Hand written application letter
  • Duly executed consumer Loan application form
  • Minimum of three (3) months active banking relationship with Sterling Bank
  • Submission of proforma invoice from the bank's approved vendor
  • Customer's Debt Service Coverage Ratio (DSCR) should not exceed 33.33% (i.e. loan instalment divided by income)
  • Up-front payment of equity contribution, up-front fees and comprehensive insurance premium
  • Up-front submission of post-dated cheques for the loan instalments, subsequent comprehensive insurance premium(s) renewal and periodic fees throughout the loan tenor

Auto Loan Promotions


Sterling Bank Plc. and Innoson Vehicle Manufacturing Company Limited have entered into an Auto Finance Promotional Partnership where the Bank provides finance leases for customers that wish to acquire Innoson brand of vehicles.
This promotional partnership will run for 180 days from March 3, 2016 – September 2, 2016.


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