Overview
This is a short-to-medium term finance lease product targeted at customers engaged in agricultural production, processing & marketing and other business activities outside the agricultural sector like transportation, trade & commerce, education services, health services, small-scale processing/ manufacturing, hotel & recreational services, for the purpose of acquiring productive assets/equipment. The bank leases assets/equipment to the customer in exchange of payment of periodic rentals for wholes lease period. Thecustomer automatically owns the asset once all the agreed lease payments/rentals have been made.
Product Features
Benefits
The leased asset is our main security
Attractive interest rate charged on declining balance
Grace periods offered on a case-by-case basis
Flexible repayment period and pattern
Requirements
Current or savings Bank
Completed lease application form
Financial Card
Cash contribution for the asset/equipment purchase
Valid identification of the leassee and the leased asset
Applicant resident within the branch’s designated area of operation
Possession of relevant business experience
