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.

Citizens Bank Guyana Vehicle Loan

Interest Rates

Competitive interest rates computed on a reducing balance

Borrower’s contribution

Determined by the age of the vehicle being acquired but not lower than 20.0%

Repayment Period

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

Collateral/Security for Loan
  1. A mortgage on property; or
  2. A Bill of Sale over the vehicle being acquired;
  3. Assignment of adequate insurance coverage
  4. Cash and Traders’ security
Documents Required
  1. Valid National Identification Card or Passport
  2. Proof of address – Recent utility bill (6 months) or post marked letter
  3. Employment letter stating current position, date of employment and salary and other cash benefits
  4. If self employed, statement of income or expenses or affidavit of income
  5. Quotation from Auto Dealer or Agreement of Sale, Valuation and copy of registration
  6. Evidence of equity contribution
  7. Statement from other financial institutions, including Hire Purchase Agreements (If applicable) of loan accounts showing balances and monthly installments payable.