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Auto loan for business purpose

  • Benefits

    • Convenience: applicable to new or used cars (up to 3 years of age) for business purpose.
    • Flexibility: loan tenor up to 5 years for new cars and 4 years for used cars, relieving customer’s financial burden.
    • Simplicity: Simple loan application, disbursement upon receiving promissory note of car registration.
    • Preferential interest rate: 7.49%/year for the first 6 months.
  • Features

    • Interest rate: per Techcombank’s regulations from time to time.
    • Repayment method: customer may choose one of the following repayment methods suitable to financial conditions:
      • Repayment with declining balance.
      • Repayment by annuity.
    • Loan to value up to 75% (depending on car’s conditions).
    • Valuation of used cars is carried out by independent valuation agency to ensure the valuation is close to market price.
  • Lending conditions

    • Individuals buying under 9-seater passenger cars, trucks, pickup trucks for business purpose.
    • Customer being at least 20 years old at the time of application submission and no older than 65 years of age at the time of loan settlement.
    • Collateral: the car being financed
  • Loan application includes

    • Request for loan.
    • ID card/Passport.
    • Household registration book/Certificate of temporary residence/Certificate of marriage.
    • Supporting documents on owner’s capital, sales contract.
    • Supporting documents on monthly income.
    • Supporting documents related to collateral.