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
Payment Period
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
![Icon-feather-check-square Icon-feather-check-square](https://www.citizensbankgy.com/wp-content/uploads/2023/06/Icon-feather-check-square.png)
Valid National Identification Card or Passport or Driver’s License
![Icon-feather-check-square Icon-feather-check-square](https://www.citizensbankgy.com/wp-content/uploads/2023/06/Icon-feather-check-square.png)
Proof of address – Recent utility bill (3 months) or postmarked letter or valid Driver’s License
![Icon-feather-check-square Icon-feather-check-square](https://www.citizensbankgy.com/wp-content/uploads/2023/06/Icon-feather-check-square.png)
Employment letter stating current position, date of employment and salary and other cash benefits
![Icon-feather-check-square Icon-feather-check-square](https://www.citizensbankgy.com/wp-content/uploads/2023/06/Icon-feather-check-square.png)
If self employed, statement of income or expenses or affidavit of income
![Icon-feather-check-square Icon-feather-check-square](https://www.citizensbankgy.com/wp-content/uploads/2023/06/Icon-feather-check-square.png)
Quotation from Auto Dealer or Agreement of Sale, Valuation and copy of registration
![Icon-feather-check-square Icon-feather-check-square](https://www.citizensbankgy.com/wp-content/uploads/2023/06/Icon-feather-check-square.png)
Evidence of equity contribution
![Icon-feather-check-square Icon-feather-check-square](https://www.citizensbankgy.com/wp-content/uploads/2023/06/Icon-feather-check-square.png)
Statement from other financial institutions, including Hire Purchase Agreements (If applicable) of loan accounts showing balances and monthly installments payable.
![Icon-feather-check-square Icon-feather-check-square](https://www.citizensbankgy.com/wp-content/uploads/2023/06/Icon-feather-check-square.png)
One passport size photograph per applicant
![Icon-feather-check-square Icon-feather-check-square](https://www.citizensbankgy.com/wp-content/uploads/2023/06/Icon-feather-check-square.png)
Character references (two minimum)
Sources Of References – Citizens Bank (citizensbankgy.com)
View related fees here: www.citizensbankgy.com/about-us/fee-structure/