Vehicle & Tractor Loans

Loans are available to purchase new and second-hand vehicles such as light delivery vans, trailers, small trucks and tractors. The repayment period in the case of the purchase of a new tractor is ten years and five years for a second-hand tractor. The repayment period in the case of the purchase of a new Vehicle is five years and three years for a second-hand vehicle.

Requirements

• Provide latest six months’ bank statement.
• Provide latest pay slip for part-time farmer/proof of
  income.
• Provide latest municipal bill if residential property is
  offered as security.
• Provide last three years’ audited financial statements.
• Applicants must have a clean credit record.
• Applicants can either be full or part ti me farmers.
• Applicants should be Namibian citizens.
• Applicants must provide a business plan.
• Agribank offers flexible installment options to suit client’s
  financial needs.
• The available installment options are: monthly, quarterly,
  biannual or annual.
• Loans are granted against security of fixed property,
  investment or any other acceptable form of security
  (fixed deposits, investments and surrendering value of
  policies).
• Quotations from registered dealers/suppliers must be
  provided.
• Companies or co-operatives should provide audited
  financial statements, certificate of registration,
  association agreement, shareholders or directors of the
  company and must have a registered Auditing Firm.