Get Your Wheels on the Road
With the Trans Atlantic Global Auto Loan
The Trans Atlantic Global Auto Loan offers you short to medium term loans for the purchase of brand new vehicles with the convenience of spreading repayments over a period of time. This is available to both salaried customers and business owners.
It enables customers to purchase vehicles from auto dealers who have been prequalified and have agreed an SLA with the bank.
Features
- Borrow $50,000.00 to $150,000.00
- Payment over 12 to 48 months
- Contribute as low as 20% towards the purchase
- Comprehensive insurance on the car for the entire loan period
- No security required
- Competitive pricing and no hidden charges
Benefits
- Free tracking device for autos valued at $300,000 and above (free for cars above $3 million, otherwise $50,000.00)
- Buy a car of your choice from our list of acceptable brands and spread payment over a convenient period
- Reliable accredited dealers to ensure you buy from a safe source
- Convenient insurance payment included in the loan repayment amount
- No residual cost at end of loan tenure
Car Loan — Eligibility
Any salaried, self-employed or professional from public and private companies, government sector employees including public sector is eligible for a personal loan.
Car Loan Amortization Schedule
| Year | Opening Balance | EMI*12 | Interest paid yearly | Principal paid yearly | Closing Balance |
|---|---|---|---|---|---|
| 1 | 25,00,000 | 2,28,109 | 1,66,879 | 61,231 | 24,38,769 |
| 2 | 24,38,769 | 2,28,109 | 1,62,615 | 65,494 | 23,73,276 |
| 3 | 23,73,276 | 2,28,109 | 1,58,055 | 70,054 | 23,03,222 |