Vehicle and Asset Finance

Our Vehicle and Asset Finance (VAF) is a medium-term facility tailored for our salaried and non-salaried customers to buy movable and immovable assets, such as motor vehicles and power generators for your own use.

What does it offer you:

  • Minimum loan amount of USD10 000 or cedi equivalent
  • Maximum loans:
    - No maximum loan for our salaried customers
    - $70 000 or  cedi equivalent – non-customer salaried account  holders
    - $50 000 or cedi equivalent – self-employed
  • Maximum financing cap
    - 90% of asset value – salaried customers
    - 60% of asset value - self-employed customers
    - 100% financing for vehicles valued up to USD45 000 or cedi equivalent.
  • Loan term ranges from 12 to 72 months (term of more than 60 months only for select vehicle models/brands)
  • Facility available in US dollars and cedis
  • Can be used to buy used or new vehicles and other movable assets for personal use
  • Financed assets remain our property for the term of the loan. Ownership is transferred to you after you have made the last repayment
  • Flexible repayment options through our salary account or direct payroll deduction.

How much it will cost you:

Competitive variable interest rate in Ghana cedis or US dollars.


  • On approval of your loan, you will need to take out comprehensive insurance cover on the asset.
  • Facility fee of 2% charged on approved loan amount.

What you need to apply:

  • Salaried income earners working for any Stanbic profiled organisation
  • Self-employed customers who meet our basic credit assessment conditions
  • Minimum net salary of GHS1 000 a month for salaried customers or net turnover of GHS2 000 for self-employed
  • Permanently employed and confirmed customer
  • Aged 21 years and under 60 years by facility’s expiry date
  • Fill in a VAF application form and attach the following documents:
  • Pro -forma invoice from dealer
  • Valuation reports, customs clearing, import and ownership documents (used vehicles)
  • Last three months’ pay slips
  • Letter of Undertaking from employer
  • Photocopy of valid passport/driver’s licence/Voter’s ID card
  • Two recent colour passport-size photos
  • Recent utility bill as proof of address (or any other proof, such as a rental agreement)
  • Last six months’ bank statements (Non-Stanbic customers).
  • Loan will be approved subject to a positive credit bureau report.

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