Vehicle and Asset Finance
Get our Vehicle and Asset Finance (VAF) leasing facility which will provide you with short- to medium-term funding to finance the purchase of mobility solutions, such as vehicles, and productive assets construction equipment; and plant modernization solutions such as new plant acquisitions and plant revamps.
Benefits of Vehicle and Asset Financing
Insured
With our credit facilities, you can access affordable insurance from our trusted partners
Flexibility
Choose to repay your loan at a pace that suits your income and lifestyle
Great Rates
Get a personalized interest rate that’s fairly based on your affordability
Matched Maturity
The repayment term is equated to the asset useful life
How to get it
For Individuals:
- Introductory letter from the employer
- Copy of national ID
- Copy of utility bill
- Most recent pay-slip
- Quotation from supplier
- Valuation report from authorized dealers (if the vehicle is a reconditioned/second hand one)
- MRA clearance certificate
- Police Clearance report
- Registration certificate (if vehicle is registered)
For business and corporate clients:
- Board resolution (for Limited or Public Companies)
- Copy of company registration certificate
- Financial Statements for the past two years
- Cash flow projections covering the finance lease tenor
- Quotation from supplier
- Valuation report from authorized dealers (if the vehicle is a reconditioned/second hand one)
- MRA clearance certificate
- Police Clearance report
- Registration certificate (if vehicle is registered)
What it costs
- Minimum loan amount MK4,000,000
What you get
Assets qualifying finance include machinery, construction equipment, tractors, farm equipment, vehicles, and other movable assets.
- The facility runs for a maximum period of 60 months
- Access to motor vehicle comprehensive insurance cover
- Facility provides different repayment options hence being flexible and affordable
Choice of Suppliers
- Local brand new vehicle dealerships eg Toyota Malawi Limited, Nissan Malawi Limited, Automotive Products Limited, CFAO Malawi Limited etc
- Local second hand dealerships, subject to that vehicle not being older than 8 years old in terms of year of manufacture.
- Importation from Bank approved suppliers such as Forward (Japan), SBT(Japan), and Grindlay Exports PTY Limited (South Africa) etc subject to the same 8 years age criteria.
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How to get it
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What it costs
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What you get
For Individuals:
- Introductory letter from the employer
- Copy of national ID
- Copy of utility bill
- Most recent pay-slip
- Quotation from supplier
- Valuation report from authorized dealers (if the vehicle is a reconditioned/second hand one)
- MRA clearance certificate
- Police Clearance report
- Registration certificate (if vehicle is registered)
For business and corporate clients:
- Board resolution (for Limited or Public Companies)
- Copy of company registration certificate
- Financial Statements for the past two years
- Cash flow projections covering the finance lease tenor
- Quotation from supplier
- Valuation report from authorized dealers (if the vehicle is a reconditioned/second hand one)
- MRA clearance certificate
- Police Clearance report
- Registration certificate (if vehicle is registered)
- Minimum loan amount MK4,000,000
Assets qualifying finance include machinery, construction equipment, tractors, farm equipment, vehicles, and other movable assets.
- The facility runs for a maximum period of 60 months
- Access to motor vehicle comprehensive insurance cover
- Facility provides different repayment options hence being flexible and affordable
Choice of Suppliers
- Local brand new vehicle dealerships eg Toyota Malawi Limited, Nissan Malawi Limited, Automotive Products Limited, CFAO Malawi Limited etc
- Local second hand dealerships, subject to that vehicle not being older than 8 years old in terms of year of manufacture.
- Importation from Bank approved suppliers such as Forward (Japan), SBT(Japan), and Grindlay Exports PTY Limited (South Africa) etc subject to the same 8 years age criteria.