Asset Finance & Personal Motor Loan Kenya : Bank of Africa

Name of the Organization : Bank of Africa – Kenya
Type of Facility : Asset Finance & Personal Motor Loan
Country : Kenya

Website : https://www.boakenya.com/

BOA Asset Finance & Personal Motor Loan

This is a product that is designed to enable individuals acquire motor vehicles while using the same asset as security for the financing. BANK OF AFRICA will help you to acquire the vehicle by financing whole or part of the cost.

Related : Bank of Africa Unsecured Personal Loan Kenya : www.statusin.org/6506.html

Benefits:
** Competitive interest rates.
** Flexible interest installments matched to your income.
** Quick processing and disbursement within one week after all requirements are received.

Features:
** The bank will finance the cost of the vehicle from between 50% to 80% of the total cost with the client funding the balance.
** Finance periods range from 12 to 48 months with the duration being fixed at the beginning of the facility.
** Interest rates charged on a reducing balance.
** The vehicle will be jointly registered in the names of the client and BOA until the loan is fully repaid.
** The vehicle must be fitted with approved anti-theft devices.
** Vehicles must not be more than eight (8) years old.
** The vehicle must be insured with a comprehensive policy for its full value and the bank interest noted on the policy document.
** The insurance company issuing the policy must be approved by BOA.

Requirements:
** Application form giving the details of the applicant.
** Bank statements for the last six months from the applicant’s current bank.
** In case of a new vehicle, evidence of the cost/value of the vehicle will be required from the car dealer.
** In case of a used vehicle, we shall require Original Valuation Reports to be obtained from our appointed valuers Auto Assured Limited or AA.
** Certified copies of identification documents (ID/passport and PIN).
** A copy of the log book or copies of the import documents including duty paid receipts in case the vehicle is imported and has not been registered.
** For salaried employees, a letter is required from the employer confirming the terms of employment.

Please note that the bank may request for additional documents and information if necessary.

About Us :
The Group began its operations in 1982 in Bamako, Mali and has over the years expanded, initially in West Africa and recently in East Africa. The Group has its Head Offices in Senegal (Dakar) and Benin (Cotonou).

It is well established in 16 countries namely: Benin, Burkina Faso, Burundi, Democratic Republic of Congo, Djibouti, France, Ghana, Ivory Coast, Kenya, Madagascar, Mali, Niger, Senegal, Tanzania, Togo and Uganda with further plans of expanding. The total turnover of the Group in 2012 was EUR 451.7 million. The Group has over 1.4 million bank accounts and 5,000 staff members.

Contact Us :
Bank of Africa – Kenya
BOA House, Karuna Close, Off Waiyaki Way, Westlands, Nairobi.
P.O Box 69562-00400 Nairobi, Kenya