04
Car Loan
Fixed-rate financing dedicated to passenger cars, new or used.
Overview
How this loan is structured
The Car Loan is modelled separately from the general Vehicle Loan to reflect how many banks price passenger cars on their own schedule, with a lower illustrative rate and a straightforward fixed monthly instalment.
Key features
- Dedicated pricing for passenger cars (modelled)
- Fixed monthly instalment for the full tenure
- Tenure modelled up to 8 years
- Optional balloon payment structure (illustrative)
Eligibility
- Applicants aged 21–60 (modelled)
- Valid driving permit
- Verifiable income source (illustrative)
Documents (illustrative)
- Proof of identity (demo)
- Driving permit copy (demo)
- Car quotation or invoice (demo)
- Proof of income (demo)
Rate & terms (illustrative)
| Detail | Value |
|---|---|
| Illustrative rate, new car | from 8.60% p.a. |
| Illustrative rate, used car | from 10.20% p.a. |
| Maximum tenure | 8 years |
| Maximum financing (modelled) | 85% of car value |
Frequently asked
This model prices passenger cars on their own dedicated schedule, generally lower than the general vehicle rate.
Yes, this model allows an optional larger final instalment to lower the monthly amount.
Yes, at a modelled higher rate than a new car.
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confirmation
Your Car Loan application has been logged in mode only. Reference no. EDU-000000. No real action has been taken.