With millions of vehicles across the country and considering that is termed as an asset, kopafasta now enables vehicle owners to get access to a wide range of financial services with their car as a collateral. The Vehicle Collateral Loan offers a no-brainer opportunity to enable economic growth while still in possession of your collateral during the whole repayment period.
For a vehicle owner to get access to the Vehicle Collateral Loan, the following KYC documents are required:
- Car registration card;
- Copy of comprehensive car insurance;
- Copy of National Identification card;
- Local government letter;
- Two passport photos;
- Copy of business license (Applicable to Business Owners);
- Bank salary slip (Applicable to Employees)
Based on the collateral market price the amount ranges from TShs. 1,000,000 to TShs 10,000,000, the repayment period of this loan ranges for 3, 6 months to 12 months based on the agreement.