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home-installment-loan

About Auto Loan HP

MTB Bank Auto Installment Loan is designed for people with regular income who struggle to pay upfront for desired items. This loan allows them to buy the items and pay in installments.

Types Down Payment Loan Amount Service Charges Loan Tenor Interest Rate
Brand New 30% 70% Up to 5 year – 3%

Up to 3 year – 2%

 Max 5 year 12% to 15%
Pre-Owned Max 3 year 12% to 15%

Items that can be purchased with Hire Purchase:

(1) Brand new Car directly from the Dealer

(2) Pre-Owned Car

(3) Above 10 Mil electrical and home appliances with a useful life of 5 years or more.

Requirements

Basic Personal Documents
  • NRC
  • Passport Photo
  • Household Member List
  • Ward Recommendation Letter
  • Guarantor NRC, Passport Photo, Household Member List, Ward Recommendation Letter
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Salaried Staff
  • Salary Slip (minimum 3 months)/ Bank Statement (Minimum 6 months)
  • Employment Confirmation Letter & Staff ID Card
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Self Employed
  • Business License/ Company Registration Documents
  • Financial Statement (1 year)
Products Requirement
  • Information about the item to be purchased (Owner Book, Premium Certificate, Wheel Tax)
  • Products/Goods/Vehicle Photos (Front, Back, Left, Right)
  • Sale Agreement

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