Unsecured /Automobile Loan Document Checklist

Documents required for any loan application

  • One (1) Valid unexpired national photo identification
  • One (1) valid proof of address (deed, recent utility bill, tax assessment or financial institution/bank statement)
  • Salaried Individuals: Letter of employment and Pay slip(s) showing the most recent full monthly income
  • Commissioned Income: Letter of employment and last 6 months pay slips
  • Self Employed Individuals:
            - Business registration / License, and most recent Annual Return (as applicable), and
            - Income documents, e.g., Income Tax Returns (last 2 years) or Audited Financial Statements (last 2 years), and six (6) months bank statements
  • Proof of assets in the name of the Borrower: Statements showing investments or bank statements, copy of land title or Motor vehicle title, Pension Statements, Last valuation of property (as applicable)
  • Proof of Liabilities in the name of the Borrower: Credit card, Loan or Mortgage statement (as needed)

Additional Documents needed to apply for an Automobile Loan

  • Source of down payment – account statement, letter signed by donor& borrower if a gift
  • For new or dealer purchase – Sales invoice
  • For pre-owned/used- Copy of Title, Agreement of Sale or Agreement of Purchase
  • For Roll On Roll Off vehicles – De-registration certificate
  • Transferred motor vehicle registration, receipt from office evidencing transfer
  • Any other to support loan purpose

Other requirements

  • Comprehensive insurance policy assigned in favour of the bank
  • Evidence of application processing fees, fees for valuation and title search (held in account)

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