Hire Purchase

For acquiring an asset like consumer goods, electronic and office equipment , gold, condominium, heavy machinery, motorcycles and motor vehicles,

Rental period

• 1 Year for under Ks-500 million, 2-5 years for over Ks-500 million

Down payment

• Minimum: 30% down payment & monthly principle payment

Fees & Charges

Required Documents

If authorized dealer applicant is company that applies for hire purchase service

• Valid company registration and import/export license
• Board of Directors’ Resolutions
• MOA & AOA
• Profit & Loss, Balance Sheet
• Tax slips
• Copies of NRC, household registration and one passport sized photo
• Names of items to be sold, price, quantity and targeted monthly sale
• Photos of items/goods and buildings
• Evidence of items/goods that were imported

If authorized dealer applicant is vehicles company that applies for hire purchase service

• Certificate from Ministry of Commerce, Department of Trade
• Business Operating Certificate from Road Transportation Department
• Car Sales Center License from Road Transportation Department
• Type of vehicle, Chassis number, Photos of Model Number and type of vehicles that will be sold, price, quantity and monthly sale
• Photos of Car Sales Center and warehouse
• Need to open a current account or savings account
• Seller needs to sign as guarantor for purchaser

If Buyer is a company

• Valid company registration and import/export license
• Board of Directors’ Resolutions
• MOA & AOA
• Business Operating License
• Profit & Loss, Balance Sheet
• Tax slips
• Photos of business
• Copies of NRC, household registration and one passport sized photo
• Recommendation from Ward/Village
• (2) Guarantors who can actually pay on behalf of the HP applicant (HP)
• Buyer’s deposit account for some goods as a guarantee to the Bank