In order to addressing the car financing needs their customers, Askari Bank offers a product called Ask4Car Auto Finance solution. Askari Bank Car Loan product offers a simple financing solution, allowing customers to purchase their own vehicle while benefiting from a wide range of features. This provides an affordable option that is simple to apply for and quick at the same time.
Customers can use this product to finance used and new vehicles with the required equity that they have to put down being the same for all kinds of vehicles which is something that other finance products do not offer. The product comes with built-in insurance and a tracker offer security and peace of mind. The loan can be spread over any period ranging from one to seven years offering customers the chance to benefit from the ability to control their monthly payments.
For used vehicles, they should not be older than 7 years old and upon maturity, they should not be older than 10 years old while the bank will not finance imported cars that are older than 7 years. For those salaried and Self-employed individuals that bank with Askari Bank, they will benefit from better rates than those who do not branch customers.
In order for customers to have their application accepted they will have to meet certain criteria. This product is suited for both salaried and Self-employed individuals with both requiring a minimum income in order to be accepted. For those who are salaried, they will be required to have a salary relationship with the bank of 3 months. Those Self-employed customers will be required to have a salary relationship of 6 months. Borrowers can make balloon payments of up to 20% and there are also premature termination charges that decrease between years one and three.
For more product details, use the above car financing calculator to find what rates are being offered by Asakari Bank.