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Drive Your Dreams Forward
Turn your dream vehicle into reality with the ICB Vehicle Loan—a flexible financing solution designed to help individuals and businesses purchase new vehicles with ease. Whether for personal convenience or business operations, our vehicle loan offers competitive interest rates, affordable repayment terms, and fast approval, putting you in the driver’s seat sooner than you think. From family cars to commercial fleets, ICB helps you move forward with confidence.
Features & Benefits
Purpose-Specific Financing
Designed specifically for purchasing new vehicles (personal or commercial use).
Loan Tenure
Typically ranges from 1 to 5 years depending on the vehicle type
Down Payment Requirement
Borrower usually contributes only a percentage of the vehicle price (e.g., 20%–30%).
Secured Loan
The vehicle being financed, together with additional acceptable collateral where applicable, shall serve as security for the facility.
Repayment in Instalments
Flexible repayment options available on a monthly, quarterly, or semi-annual basis.
Insurance Requirement
Comprehensive insurance over the financed vehicle is mandatory throughout the loan tenure.
Vehicle Ownership
The bank retains ownership or charge over the vehicle until full repayment.
Quick Disbursement
Once approved, funds are paid directly to the car dealer or seller.
Access to Better Vehicles
Borrowers can afford higher-quality or newer vehicles than they could with cash savings alone.
Preserves Cash Flow
Spreads the cost over time, allowing the borrower to maintain liquidity for other needs.
Affordable Interest Rates
We offer competitive interest
1. Stable and Verifiable Income
Applicant must have a steady and reliable income source.
- This may be from:
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- Salaried employment (government or private sector)
- Established business income with consistent cash flows
2. Good Credit History
- Applicant should have:
- No adverse credit records (e.g., defaults, unpaid loans, NPLs)
- Acceptable credit bureau report
3. Confirmed Vehicle Purchase
- A proforma invoice or quotation from an authorized dealer for a new vehicle only is required.
4. Down Payment Contribution
- Borrower must contribute a portion of the vehicle price (commonly 20%–30%,).
5. Compliance Requirements
The borrower must satisfy KYC and regulatory requirements, including:
- Tax identification documents
- Financial statements or management accounts
- Compliance with AML/CFT requirements
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Insurance Premium Financing Loan
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Alternative Delivery Channels
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Agency Banking
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Internet Banking
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Mobile Banking
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ICB Umoja Debit Card
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ICB Mastercard Debit Card
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Experience convenient and secure banking with ICB Digital, enabling you to manage accounts, transfer funds, pay merchants and settle utility bills and government payments anytime, anywhere.
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