Hire Purchase

Realize your dream of owning a vehicle with AFFINBANK Hire Purchase. We offer:

• Fast approval
• Competitive rates
• Repayment period up to 9 years
• Margin of financing up to 90%
• Payment convenience through multiple channels: Branches, Automated Teller Machines, Cash Deposit Machines, Cheque Deposit Machines, Interbank GIRO (MEPS IBG), affinOnline.com (online banking) and Standing Instructions
• Convenient renewal of motor insurance and road tax

Eligibility

• Individual aged 18 years and above
• Sole proprietor/ Partnership
• Private/ Public Limited Company

Financing Terms*

Age of Vehicle	Margin of Finance	Loan Tenure
Passenger Vehicles
New	Up to 90%	Up to 9 years
1 - 5 years	Up to 85%	Up to 9 years
6 - 8 years	Up to 75%	Up to 7 years
Commercial Vehicles (with gross laden weight not exceeding 2540 kg)
New	Up to 85%	Up to 6 years
1 - 5 years	Up to 80%	Up to 5 years

* Terms and Conditions apply. The Bank reserves the right to change the above at our absolute discretion.

Documents Required

Individual (Employed/ Salaried)

• Photocopy of NRIC/ Passport and valid driving license; and
• Latest 3 months (without overtime) payslips/salary vouchers or latest 6 months (with overtime) payslips/ salary vouchers or latest 6 months commission statements (for commission earners) or latest EA Form or Borang B supported by tax payment receipt or e-Filing supported by acknowledgement; and
• Latest EPF statements or latest 6 months savings/current account statements or letter from employer to the Bank to confirm applicant’s income

Sole Proprietor/ Partnership

• Photocopy of NRIC/Passport and valid driving licenses; and Certificate of Business Registration or partnership agreement (if any) or Certificate of Practice for professional (professional bodies) or business permits/trading license (if any); and
• Latest 6 months bank statements; and latest Borang B supported by tax payment receipt or e-Filing supported by acknowledgement or latest financial statements or management accounts; and
• Contracts in hand or sales vouchers (for agro based sector) or unencumbered deposit certificates/investment certificates/ unit trust

Private/ Public Limited Company

• Certified true copies of Certificate of Incorporation, Memorandum and Articles of Association, latest Forms 24 & 49 and brief business profile/write-up or latest annual returns (if any); and
• Latest 6 months bank statements and latest audited accounts or management accounts; or
• Contracts in hand

Notes:

1. The above documents are to be submitted together with the application form to any of our branches.
2. All applicants are required to declare any non-bank financial obligations and the repayments.
3. The Bank reserves the right to request for additional documents if necessary.

For further information, please contact our Call Centre at 03-5522 3000 or visit the nearest AFFINBANK branches today.

 

Please click on the respective icon for information on:

• AFFINBANK Branches (Hire Purchase)
• Islamic Hire Purchase

Please click on the respective icon for forms:

• Request for Document
• Instruction to Change Contact Detail

Please click on the respective icon for information on:

• Code Of Ethics On Repossession
• Product Disclosure Sheet