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.
Procedures
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)
Loan Amount
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.