With a Citizens vehicle loan, there are no prepayment penalties – you pay interest only on the amount you borrow and only for the length of time you borrow; and when you pay early or extra during the month you actually save money.

Interest Rates

Competitive interest rates of 9.50%-13.00%( Based on year of manufacture) computed on a reducing balance.

Borrower’s Contribution

Determined by the age of the vehicle being acquired but not lower than 30.0%

Payment Period

Vehicle Age – No more than ten years from date of manufacture

A maximum period of five (5) years based on age of vehicle

  • A mortgage on property; or
  • A Bill of Sale over the vehicle being acquired;
  • Assignment of adequate insurance coverage
  • Cash and Traders’ security

Documents Required


Valid National Identification Card or Passport or Driver’s License


Proof of address – Recent utility bill (3 months) or postmarked letter or valid Driver’s License


Employment letter stating current position, date of employment and salary and other cash benefits


If self employed, statement of income or expenses or affidavit of income


Quotation from Auto Dealer or Agreement of Sale, Valuation and copy of registration


Evidence of equity contribution


Statement from other financial institutions, including Hire Purchase Agreements (If applicable) of loan accounts showing balances and monthly installments payable.


One passport size photograph per applicant

Scroll to Top