Compare Vehicle Loans

 

Wema Asset Acquisition Scheme (WAAS)

Loan Interest

30%%

Minimum Loan Term

6 months month

Minimum Loan Amount

₦500,000

Benefits

  • Equity contribution of as low as 20%
  • Only brand new assets will be financed
  • Competitive interest rate

General Details

  • Eligibility
    salary domiciliation
  • Collateral
  • Obligor limit
  • Equity Contribution
  • Maximum loan term
    48 months
  • Maximum loan amount
    Contact the bank

Auto Loan

Loan Interest

3.5%

Minimum Loan Term

12 month

Minimum Loan Amount

₦500,000

Benefits

  • Up to N30,000,000
  • Installation of free tracking device
  • No residual cost at end of loan
  • No security required

General Details

  • Eligibility
    Individuals in structured employment.
    Self-employed individuals with regular income.
  • Collateral
  • Obligor limit
  • Equity Contribution
    Minimum of 20%
  • Maximum loan term
    48 months
  • Maximum loan amount
    N7,5000,000

Automobile Loan

Loan Interest

22% p.a.%

Minimum Loan Term

1 month month

Minimum Loan Amount

₦500,000

Benefits

  • Up to N15 million
  • Salary domiciliation
  • A year free car servicing
  • Free car registration

General Details

  • Eligibility
    Applicants with salary account with FirstBank.
    Facility is restricted to the purchase of brand-new vehicles only.
  • Collateral
  • Obligor limit
  • Equity Contribution
    20%
  • Maximum loan term
    48 months
  • Maximum loan amount
    N15,000,000