Car Loans
New and existing customers of Housing Authority can obtain a loan to buy a private Motor Vehicle up to $25,000.00. The vehicle has to be used for private purposes only. A separate account is created for car loans, which is attached together with the mortgage account.

Terms and Conditions.
Interest rate of 13.5% apply.
Client must have a new or existing mortgage with Housing Authority.
A Bill of Sale would be prepared for the car loan.
Loan term of 4 years for new car and 3 years for a second hand car..
Cash Deposit of 20% on the price of the car.
Total loan plus FNPF including the car should be less than 80% of the value of the property.
Total commitment of 35% of gross salary for income less than $25,000 per annum and 40% above $25,000.
The Vehicle has to be insured.

Requirements:
Consent letter for the car vendor.
Third Party Policy of the car.
Quotation if it is an unregistered car.
Valuation Report from an independent valuer.
Certified true copy of title.
Pay slips / Statutory Declaration (Self employed)/ Income Statements / Cash flows / three years audited financial report.
Application fee $50.00.