TEB Vehicle Loan helps you sweep your feet off the ground. Pay a visit to the nearest TEB branch to take out a TEB Vehicle Loan at the most advantageous terms and own your dream car, now. Pay a visit to our branches with required documents, utilize your loan within 24 hours and enjoy TEB’s world of opportunities.
The interest rate related to your vehicle loan will remain unaffected by the interest rate fluctuations in the market and remain fixed throughout the entire maturity term. You can utilize TEB Vehicle Loan under long maturity term deals, which extend up to 48 months, and repay it in installments conveniently.
Personal Vehicle Loan:
- The photocopy of the ID card (birth certificate) or the driving license of the applicant.
- Proof of Income / Payroll
- Balance sheets for the last 3 years, Tax Certificate and the extract from the Trade Registry Gazette for the self-employed and business owners
- Proforma invoice for the vehicle to be purchased
- The photocopy of the vehicle license in the case of second hand vehicles
Commercial Vehicle Loan:
In addition to the vehicles required for Personal Vehicle loan, the following documents are required;
- Photocopies of the ID cards (birth certificates) of the shareholders of the applicant business and of the guarantors, if applicable
- The balance sheets and income statements for the last three accounting years
- Up-to-date Tax Certificate
- Trade Registry Gazette extract
- List of Authorized Signatories
* The line available for the vehicle loan is up to 80 % of the turnkey price for brand new vehicles, and up to 70 % of the sum insured for the motor vehicle loan for second hand vehicles.
** The loan is offered for second hand vehicles not older than 5 years. The line available for the vehicle loan is up to 60 % of the sum insured for the motor vehicle loan for second hand vehicles.
*** In the cases where the payroll slip for the professionals employed on salary basis is delivered under letterhead , the list of authorized signatories of the concerned company shall be required.
**** The Bank is entitled to require guarantors and supplemental documents in cases, where it may deem necessary. The same documents will be required also in respect of the guarantor.