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Stanbic IBTC’s Vehicle and Asset Finance (VAF) is a medium-term loan facility designed for both its salary and non-salary earners that have a relationship with the bank. These loans allow you to purchase motor vehicles and assets like generators.

For the tenor rates, domiciled customers get a maximum tenor of 60 months (5 years) while bankers have a tenor of 48 months (4 years).

The initial payment of 10% for the cost of the vehicle or asset applies to domiciled accounts while an initial payment of 40% applies to bankers.

This Stanbic IBTC loan offers a verified partner/dealer to ensure you get the car of your dreams.

For used vehicles with a mileage of 70,000km or less and not older than 10 years since the manufacture date, the loan cap is N20 million with a minimum contribution of 20%.

Brands that this applies to:

• Toyota,
• Mercedes Benz,
• BMW,
• Audi,
• Nissan,
• Honda,
• Mitsubishi,
• Land Rover,
• Chevrolet,
• Dodge,
• Lexus,
• Infiniti, and
• Acura.

Other brands may not exceed 8 years. Other assets that can be acquired through this loan are Inverters and Solar solutions with a maximum loan amount of N5 Million and a tenor of 18 months (a year and a half).

Generator maximum loan limit of N7 Million and a tenor of 36 months. Another essential feature of this loan plan is that it covers insurance for vehicles and assets.

Requirements for Stanbic IBTC Vehicle and Asset Finance Loan Direct

• Completed loan application form
• Salary evidence or proof of income such as pay slips, statements of account
• Proforma invoice for the vehicle or asset to be purchased (preferably from a Stanbic IBTC dealer/partner)

Stanbic IBTC Vehicle and Asset Finance  Loan Direct Application Channels

You can apply for this Stanbic IBTC loan through the following:

• Any Stanbic IBTC branch