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Expresso Auto Loan is an automobile loan facility for the financing of new and reconditioned vehicles (not more than 4 years) from approved Automobile dealers.
It can be assessed by salary earning employees who receive regular net take home pay, Self-employed individuals and professionals who do not receive regular incomes but generate considerable turnovers to meet their loan repayment obligations over the given loan period.
The product is also available to selected Corporate companies for their employees under Corporate Guarantee Schemes to purchase vehicles for private and personal use.
Securing arrangement & documentation
General
Original Invoice covering the purchase price of the vehicle
The information provided will form the basis of credit decision. (Branches are responsible for veracity and accuracy of information and documentation submitted)
Vehicle registration documents and Insurance certificate.
Individuals
Application Form set duly completed and signed by applicant and endorsed by an authorized official of the employing company.
Proof of income/latest salary slip/latest income tax returns
Registration of Vehicle and Insurance
Registration will be in the joint names of the bank and the customer.
The vehicle shall be registered under a comprehensive Insurance.
The comprehensive insurance shall be in the names of the loan applicant and the Bank with the Bank endorsed as the loss payee.
Expresso Auto Loan Approved Auto Dealers
To access this facility, get in touch with an Entrepreneur Officer, Branch risk officer or Branch Manager at any SG-SSB Branch.
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