Registered Vehicle Loans

Registered Vehicle Loans provide secure financing for both existing and new customers, using the vehicle’s original CR as collateral during repayment.

Registered Vehicle Loans is a tailored loan service designed for individuals seeking financial assistance with the reassurance of their vehicle’s registration certificate (CR) as collateral. This program is accessible to both existing customers of the microfinance institution and those new to the service, offering a secure and straightforward way to obtain funds. By mortgaging the vehicle’s original CR, borrowers can leverage their asset without relinquishing its use, thus maintaining their mobility and operational capabilities. This loan is particularly beneficial for individuals and entrepreneurs who require immediate financial support but wish to retain the use of their vehicle. The program is structured with clear and fair terms, ensuring transparency and a manageable repayment plan.

Key Features

• Uses the vehicle’s registration certificate as collateral.

• Available to a wide range of applicants, including new customers.

• Transparent terms with a focus on borrower convenience and security.

Benefits

• Quick access to funds using an owned vehicle as security.

• Continued use of the vehicle during the loan period.

• Opportunity for financial assistance without extensive credit requirements.

Eligibility Criteria

• Possession of a vehicle with a valid registration certificate.

• Demonstrated ability to fulfill loan repayments within agreed terms.

• For new customers, submission of necessary documentation to establish credibility and trust.