AboutAsset Finance

Asset finance is available to business account holders and is intended to assist in the acquisition of movable assets, such as, motor vehicles, pick ups, motorcycles and tuk-tuks. Other assets include: tractors, heavy earth moving equipment, machinery and lorries.

• Financing contract to be used can be Murabaha, Diminishing Musharaka or Ijarah.

• Receive up to 80% financing for brand new vehicles.

• Receive up to 60% financing for brand new tuktuk’s.

• Receive up to 60% financing for brand new motorcycles.

• Loan repayment period of up to 4 years for brand new vehicles.

• Up to 70% financing for used commercial / personal vehicles.
• Loan repayment period of up to 3 years for used commercial / personal vehicles.
• Up to 60 % financing for used PSV vehicles.
• Loan repayment period of up to 2 years for used PSV vehicles.
• Loan repayment period of up to 1 year for motor cycle.
• Loan repayment period of up to 2 years for tuktuk.
• No maximum loan requirement.
• Insurance for vehicles / equipment will remain comprehensive for the period the assets are under finance. Unless exceptions are sought, the insurance must be from a shariah-compliant insurer.
• Repayment period from 1 to 4 years