FIRST CAPITAL LIMITED
Asset Finance
Scope of the product
We provide asset finance to assist clients acquire new and used movable assets (registrable under the NTSA portal) at competitive interest rates and terms.
We provide asset finance to assist clients acquire new and used movable assets (registrable under the NTSA portal) at competitive interest rates and terms.
What is asset finance loan?
loan extended to customers to finance purchase of moveable assets (registrable in the NTSA portal e.g. motor vehicles
What percentage of the value of the motor vehicle is financed?
We finance up to 60% of the cost of the vehicle while the customer contributes minimum of 40% of the cost to be paid directly to the dealer.
Where do I get a valuation report?
You can either get your car valued by Regent or Steering auto valuers.
How do I make an application?
You can make an application physically at any of our branches in Mombasa and Nairobi or you can contact us on our Tel – 0705 474 291, Email – info@first-capital.co.ke, or through our appointed agents.
What is the minimum and maximum loan tenure for asset finance loan?
Minimum of 3 months and maximum of 24 months.
What is the rate of Interest?
FCL charges an interest rate of 4% pm on reducing balance.
Are there any other charges?
Yes. We charge loan processing fee of 3% and 1.5% Loan Insurance on the loan amount.
Are there any exceptions to this facility?
We do not give asset finance for Tractors and Trailers. Loan approvals are subject to Credit Appraisal.
How long does it take to process the Asset finance?
24 working hours after receipt of ALL documents set out under the requirements aforementioned.
We believe in partnerships to offer our customers the best service.
We are here to help you 7 days a week and respond within 24 hours.
First Capital Limited
11th Floor, NSSF Building Northern Wing,
Nkrumah Road, Mombasa, Kenya.
T: +254 (041) 2241 220
+254 (0)705 474 291