Personal Banking

Motor Loan

For some of us, a car is more than just a way to travel. It’s an extension of who we are. It’s a status symbol and a reflection of the hard work we’ve put in over the course of our careers. But a car is a serious expense and paying it off in one shot is often not an option. For this reason CBA offers motor loans that make buying your dream car easily affordable.  

Features and Benefits:

  • Loan repayment period of up to five years
  • Self-securing loan as the vehicle itself will secure the loan (you are however required to contribute a small amount of the costs of the vehicle)
  • Interest is charged on a reducing balance basis

Application Requirements:

  • A completed and signed motor loan application form
  • Your ID/passport (plus copies)
  • Bank statements for the previous six months
  • Pay-slips for the previous three months
  • Letter of reference from your employer
  • A proforma invoice and a copy of your log book
  • The valuation report of the car you’re purchasing