Let’s help you do the heavy lifting of buying a new car, pre-owned imported vehicles or a mid-size generator with an asset loan payable in up to four years. WAAS is also open to businesses that want to motivate their staff with group loans.
Features
- Loan facility is as low as N500,000.00
- Covers assets like pre-owned and new vehicles, and mid-size generators only
- Facility runs from 6 to 48 consecutive months
Benefits to Customers
- Eliminates cash flow burden associated with outright purchase of asset/equipment
- Allows beneficiary to own now, use now & pay later through pre-agreed convenient repayments
- Enables organizations to motivate their staff through the group asset acquisition schemes
- Competitive interest rate and fee structure
- Equity contribution of as low as 20%
Documentation
A. For Salaried Individual with Account Domiciled in Wema Bank
- Properly completed WAAS Application Form
- Letter of Introduction from employer’s HR (Branch verified)
- Means of Identification (National Driver’s License, International Passport, National ID & office ID Card)
- Latest 3 months pay slip
- Authenticated & recent 3 months bank Statement
- Residential Utility Bill + Customer Visitation Form for KYC
- Pro-forma Invoice issued in the name of Wema Bank
- Favourable Credit Bureau Report and completed CRMS 100 Form
- 1 month salary Credit to Wema Bank Salary Account
- Employer Endorsed Salary Domiciliation Letter
- Direct Debit Authorization & Irrevocable Undertaking To Fund Personal Current Account
B. For Salaried Individuals where Account Not Domiciled in Wema Bank
- Properly completed WAAS Application Form
- Letter of Introduction from employer’s HR (Branch verified)
- Means of Identification (National Driver’s License, International Passport, National ID& office ID Card)
- Latest 3 months pay slip
- Authenticated & recent 3 months bank Statement
- Residential Utility Bill + Customer Visitation Form (KYC)
- Pro-forma Invoice from the bank approved vendor issued in the name of Wema Bank
- Favourable Credit Bureau Report and completed CRMS 100 Form
- Irrevocable Standing Order From Client’s Bank in favour of Client’s Wema Bank Personal Current Account
- Direct Debit Authorization & Irrevocable Undertaking to fund Personal Current Account.
C. For Self Employed Professional
- Completed Application Form
- Personal Current Account with Wema Bank
- Letter of Introduction duly endorsed by a company director
- Means of Identification (Statutory and Official)
- Authenticated & recent 12-month bank Statement
- Residential Utility Bill + Customer Visitation Form (KYC)
- Certificate of Registration/incorporation
- Particulars of Directors
- Corporate/Company Profile
- Pro-forma Invoice issued in the name of Wema Bank
- Favourable Credit Bureau Report and completed CRMS 100 Form
- Direct Debit Authorization & Irrevocable Undertakin
- Duly completed loan application form & executed offer section
- Letter of introduction signed by an authorized signatory of employer
- Irrevocable letter of salary domiciliation (duly executed by employer’s authorized signatory)
- The signatories must be independently verified by a representative of Wema Bank
- Proof of income (3 months’ pay slip or 3 months account statement)
- Proof of address (Physical visitation and report by RM) supported with a copy of recent utility bill.
- Proof of identity (Staff ID is acceptable but National ID, International Passport or Driver’s License may be required where necessary)