Car Loan

Your dreamed brand new car will come true by Canadia Bank Lao Co., Ltd’s Car Loan facility with an attractive interest rate and easy approval process.

Interest rate

1. Use car as collateral

Down payment (%)	Interest per month (%)
30	0.65
40	0.64
50	0.59
60	0.58
70	0.57

 

2. Use land as collateral

Loan to collateral value (%)	Interest per month (%)
30 - 40	0.60
40.01 - 50	0.59
50.01 - 60	0.58
60.01 - 70	0.57
70.01 - 99.99	0.56
100	0.56

Loan amount

• Maximum loan Limit of each Car Loan is LAK 500 Million (approx. USD 50,000);
• One borrower is applicable to have many car loan accounts, but the combination of the loans shall not exceed LAK 1 Billion (approx. USD 100,000);
• One guarantor is applicable to guarantee many car loans, but the combination of the loans shall not exceed LAK 1 Billion (approx. USD 100,000).

Bank service charge and collateral evaluation fee

• 2% of loan limit or minimum USD 250 in case that 2% of loan limit less than USD 250 or equivalent.

Repayment method

• Fixed monthly installment (flat rate).

Requirements

1. Employee or government official: valid national ID card/passport, employee’s or government official’s ID, family book/work permit, valid driving license (if any), certificate of current residence (original), Employment Contract, Employment certificate/pay slips/bank statement, and/or other relevant documents (must pass probation at least 6 months);
2. Business owner: valid national ID card/passport, family book/work permit, valid driving license (if any), certificate of current residence (original), business license (if any), tax registration certificate (if any), annual tax payment receipt (if any), Income Statement for the last 6 months and other relevant documents (if any).