By IMELDA SAMBA
Part of the Strategic Imperatives for BSP Finance SI in the 3rd and 4th Quarter of the year will see us presenting our products and services to the Corporate Entities in Honiara and slowly work our way to the outer provinces in the Solomon Islands.
The first of its kind may I add, as Veronica Buga and I visited SI Tobacco and presented to the management team mostly centered around the Consumer Vehicle Loan Product that BSP Finance offers. The staff at SI Tobacco were mostly interested in refinancing options with Credit Corporation who are our major competitor in the region.
Some Frequently Asked Questions (FAQs) on the Consumer Vehicle Loan.
- What is Consumer Vehicle Loan? A Consumer Vehicle Loan is a fixed term loan repayable in regular instalments covering principle and interest payments.
- Who are we Targeting? Employed Customers in need of purchasing a motor vehicle for their family or private use ONLY.
- Features of the Consumer Vehicle Loan
- Minimum Loan Amount - SBD$50,000
- Maximum Loan Amount - SBD$500,000
- Term - Term of the loan commensurate with the loan purpose indicative terms are: - "Purchase of a new or used car (vehicle age not older than 15 years. Maximum Term of 5 years).
- Equity - Evidence of Equity is required.
- Security - An acceptable vehicle security from an authorized and licensed motor vehicle dealer must be provided.
- Minimum 2x Valid IDs (e.g. valid passport bio-page copy and valid driver’s license)
- Applicant must be 18 years or age and above
- 3x recent Payslips
- Last 3 months’ bank statements (where your salary account is held)
- Motor Vehicle Quote from the Dealer of Preference
- Details of other loans or credit accounts
- Current Employment Confirmation Letter
Pictured is the management team, Veronica Buga and I after the presentation on Tuesday, 14/07/21 at their office.