The Auto Loan (ATL) product
provides individual clients with the opportunity to obtain a loan for the
purchase of movable assets, such as vehicles (motorbikes, tricycles, and cars),
agricultural machinery (tractors, plows, harvesters, etc.), heavy machinery
(excavators, bulldozers, road rollers, etc.), and generators, at a reasonable
interest rate and loan term. The purchased asset shall be accepted as
collateral to secure the loan.
This loan enables clients who have
regular income from salary or business, services or other legal sources of
income and require buying moveable assets to use in household or for business.
The loan is also targeted at clients who use the loan for purchasing energy-efficient movable assets which respond to social and environmental sustainability.
LOLC’s Auto Loan offers clients a number of key benefits:
- A reasonable interest rates, calculated only on the outstanding principal balance.
- Convenient options for borrowing and repayment through the nearest LOLC branches or via partnered money transfer agents.
- Flexible Loan term and repayment schedule can be tailored to meet your individual needs.
ATL is designed to meet customer needs with flexible repayment options such as:
-
- Flexible annuity, or
- Semi-balloon (monthly interest repayment and the principal repayment based on cash flow analysis and mutual agreement).
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