The Auto Loan (ATL) provides clients with opportunities to get the loan for purchasing moveable assets such as motorbikes, tricycles, cars, generators, agricultural machinery (tractors, tillers, harvesters, etc.), and heavy equipment. The loan comes with competitive interest rates and flexible repayment terms, with the purchased items or equipment used as collateral. This loan is suitable for customers with stable income sources, such as salaries or income from business, services, or other legal sources. It is intended for purchasing products or equipment for personal or family use. Through this loan offering, LOLC can expand its market share, increase revenue, and maintain long-term operational sustainability.
LOLC's Auto Loan offers customers several key benefits, including:
- 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:
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- Flexible annuity, or
- Semi-balloon (monthly interest repayment and the principal repayment based on cash flow analysis and mutual agreement).
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