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For those who are struggling to find auto loan, CalBank can help. CalBank’s auto loans can help you get the car you want and the financing you need.
You can also get a variety of benefits with their auto loans like low monthly payments, low down payments, flexible payment schedules and more.
This article will go over everything you should know about CalBank Auto Loan before you apply to make sure you are getting the best deal possible.
What is CalBank Auto Loan?
CalBank Auto Loan is a credit provision designed for clients of CalBank to purchase any vehicle of choice. Buying a dream car can be both tedious and complicated.
CalBank assist their valued clients with the needed funds to realize this lifestyle dream, because vehicle ownership is paramount to their daily activities.
CalBank’s Auto Loan facility can be accessed by Individuals, Professionals, Consultants and Salaried workers with recognized institutions to acquire a vehicle for personal/company use.
What are the Requirements of CalBank Auto Loan?
Eligible applicants of CalBank Auto Loan must meet the following requirements:-
- Applicant must have a Valid National ID e.g. Passport, Drivers’ License, Voter’s ID Card, SSNIT Card, Ecowas Card
- The applicant must provide One (1) recent passport-size picture
- Its a requirement to validate your Residential Address (E.g. Utility Bill, Introduction by a Current A/C holder of any Bank, Location Verification)
- You should prepare an Initial deposit of GHS 500.00
- The minimum balance required to earn interest is GHS 500.00
Who is Eligible for CalBank’s Auto Loan?
To be eligible for CalBank’s Auto Loan, the applicant must have the following:
- A Minimum Salary: GHS 500.00.
- Applicant must be at the Age of 18 to 53 years.
- Employment Records: 6 months or at the discretion of the credit manager.
- Account History: Six (6) months Bank Statement is required from clients with account relationship with other Banks.
- Clients shall be updated on monthly loan repayment via our CalBank Alert.
What makes this Auto Loan so enticing?
CalBank’s Auto Loan is one of a kind, it provides an alluring offers for the applicants. Below are few listed offers you can get with CalBank Auto loan:-
- Loan Repayment: Annuity payment Method (Same amount is paid monthly)
- Age of Vehicle: The vehicle must not be older than five (5) years
- Tenure: 60 months or less
- Security: Charge over vehicle to be purchased
- Personal Guarantee of applicant
- Provident Fund if any
- Vehicle shall be registered and insured in the joint names of CalBank and client
- Debt Burden: Not more than 45% of income
- Pricing: GRR + Agreed Risk Premium
- Arrangement and Processing fees: 3% (to be paid upfront)
- Maximum Loan: The Bank finances up to 80% of the value of the vehicle
- Insurance: The vehicle will be comprehensively insured
- Readily available credit on a timely basis
- Flexible terms of repayment
- Prompt advisory services shall be given by a team of dedicated account managers
How to apply for CalBank Auto Loan?
Now tthat you know whether you are eligible or not, if you are eligible, kindly visits the nearest CalBank to start your Auto loan application process. It’s very simple and snappy.
How to contact CalBank?
You can contact the CalBank support team via email or phone call.
23 Independence Avenue
- P.O.Box 14596 Accra, Ghana
- +233 302 680 062
- +233 302 680 063
- +233 302 680 065
- +233 302 680 079
- +233 800 500 500
We hope you enjoyed our blog post about everything you need to know about CalBank Auto Loan before applying for one. We know that this is a tough process and you may not know all you need to about the process. We are here to help you make the best decision for you and your family with our blog post.
It is important to do your research before deciding to apply for a CalBank loan so you can be sure that you are making the right decision. Follow the tips in this article and we know you will be happy with the loan process and your decision. If you ever have any questions, please feel free to reach out to us by commenting below.