Asset Finance

National Bank’s Asset Finance product has been designed to help you acquire movable and capital assets and use them as security for the facility. It is available to all National Bank clients and eligible, prospective clients;

Main Features:
New Motor vehicle

  • Deposit / down payment – minimum 10% of cost
  • Minimum amount from Kes.300,000/=
  • Maximum repayment period of:

48 months – (for commercial use)
60 months – (for personal use)

Used Motor vehicle

  • Deposit / down payment – minimum 20% of cost
  • Minimum amount from Kes.300,000/=
  • Maximum repayment period of:

36 months – (for commercial use)
48 months – (for personal use)

  • Maximum age of the vehicle is 5 years

Benefits

  • Flexible interest rates
  • Affordable monthly repayments
  • Quick processing of application
  • Financing of both new and used vehicles
  • Insurance premium finance available

Requirements
Individual (sole proprietors/partnerships)

  • Certified copy of PIN and National Identification card
  • Latest 6 months bank statements
  • Certificate of registration (if proprietor or partnership)
  • Copy of log book (used vehicle)
  • Valuation report from authorized valuer (used vehicle)
  • Companies
  • Certified copies of memorandum and articles of association
  • Certified copy of certificate of incorporation
  • Latest annual returns and filing receipts
  • Board resolution authorizing the borrowing

Other terms and conditions

  • Duly executed hire purchase agreement
  • Joint registration receipt
  • Three blank transfer forms
  • Comprehensive insurance cover for one year
  • Directors joint several and personal guarantee and indemnity
  • Rights of set off