Auto Loans
The Auto Loan is designed to help customers purchase automobiles and other personal items from CMB’s accredited vendors and stores. It is usually secured with the automobile itself and, in some cases, backed by the customer’s employer guarantee.
Description
This loan product provides immediate access to funds for automobile purchases, giving customers a financial edge against rising car costs.
Features & Benefits
Immediate purchase of automobiles
Protection against rising car prices
Flexible repayment options
Requirements
Proforma invoice of the automobile
Completed application form
30% equity contribution
Tenor
Maximum repayment period: 3 years
Eligibility
Customers with active salary or operating accounts at CMB
Target Market
Salaried employees
Self‑employed customers
Security
Vehicle life card
Comprehensive insurance