Lease Finance
Flexible Solutions for Your Leasing Needs
The Lease Finance is designed to assist customers acquire assets whilst spreading the cost of acquisition over a period of 12 months.
- All pro-forma invoice for a finance lease must be issued in the banks name and duly confirmed from the issuing company before processing
- The asset must be purchased in the bank’s name and ownership retained until the loan principal, interest and other charges are paid
- Customer must provide at least 20% of the loan amount cash contribution to take care of wear and tear (depreciation) of the asset
- The asset must be insured against fire, accident, theft and special peril depending on the nature of the asset and in the case of vehicles, the insurance must be accompanied by a tracker
- The customer will bear all incidental costs for insurance, registration, etc.
- Loan disbursement for all finance leases must be made directly to the vendor to avoid diversion of fund.
- Tenor must not exceed twelve (12) months.
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