Automobile Loan
A facility designed to part-finance the acquisition of automobiles for individuals and businesses.
Click on the links below to view flyers on the various automobile loans available.
Features
- Maximum loan amount N10 million
- Maximum tenor is 36 months
- Equity contribution is required
- Competitive interest rates
- Automobiles to be financed must be new and from FirstBank approved vendors
- Salary domiciliation
Benefits
- Allow customers to channel funds that would have been expended on vehicle purchase to other commitments.
- Promote personal banking relationship.
- Enable branches to grow their LAD and earn interest fees.
Accompanying Documents
- Application letter
- Duly Completed Auto Loan application form
- Proforma Invoice from FBN approved vendors
- Current 3 months pay slip
- Statement of account
- Letter of total emolument
- Other KYC requirements where the customer is to open an account
Next Step
To apply for the Automobile loan,
- Download the Auto Loan Application Form
- Complete the form and submit at the nearest FirstBank branch
Frequently Asked Questions
Can we avail Auto loan facility to a staff of another bank?
No because of compulsory domiciliation of salary No, because of compulsory domiciliation of salary
