Ghana

Vehicle Loan

Vehicle Loan banner

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.

Some Benefits of Vehicle Loan

Your terms

Choose to repay your loan at the pace you're comfortable with

Self-service

Manage repayments on the go using our mobile banking app

Currency Options

Facility available in US dollars and cedis

Flexible repayment

Flexible repayment options through our salary account or direct payroll deduction
What you get
  • An advance of up to 60% of your disposable net monthly salary (after all monthly loan deductions and commitments have been paid)
  • Minimum overdraft limit of GHS100
  • Facility limit renewal subject to satisfactory account performance
  • Monthly pay back of used limit or a clean-up cycle of 30 days
  • Facility fee of 2% (minimum GHS50) charged on approved limit and at each renewal
  • No maximum overdraft limit
  • Credit Life insurance premium of 0.84% on approved limit against death and permanent disability
  • Interest applies only on portion of overdraft used each month
How to get it
  • Work for any Stanbic profiled organization
  • Earn a minimum salary of GHS400 a month
  • Minimum salaried account relationship of:
    • - One month - Workplace Banking Scheme companies/organizations
    • - Three months – non-Workplace Banking Scheme companies/organizations
  • Customers with salaried Stanbic Current Account
  • Fill in a Personal Overdraft/Salary Advance application form and attach the following documents:
  • Statement of account from previous bank (new to bank applicants only)
  • Pay slips from the past three months
  • Overdraft will be approved subject to a positive reference from credit bureau
  • What you get
  • How to get it
  • An advance of up to 60% of your disposable net monthly salary (after all monthly loan deductions and commitments have been paid)
  • Minimum overdraft limit of GHS100
  • Facility limit renewal subject to satisfactory account performance
  • Monthly pay back of used limit or a clean-up cycle of 30 days
  • Facility fee of 2% (minimum GHS50) charged on approved limit and at each renewal
  • No maximum overdraft limit
  • Credit Life insurance premium of 0.84% on approved limit against death and permanent disability
  • Interest applies only on portion of overdraft used each month
  • Work for any Stanbic profiled organization
  • Earn a minimum salary of GHS400 a month
  • Minimum salaried account relationship of:
    • - One month - Workplace Banking Scheme companies/organizations
    • - Three months – non-Workplace Banking Scheme companies/organizations
  • Customers with salaried Stanbic Current Account
  • Fill in a Personal Overdraft/Salary Advance application form and attach the following documents:
  • Statement of account from previous bank (new to bank applicants only)
  • Pay slips from the past three months
  • Overdraft will be approved subject to a positive reference from credit bureau