Business

Motor Vehicle Requirements

Documents Required from Applicants

Documents for Companies, Partnerships and other institutions

  • Business Proposal/plan
  • Last three years’ financial statements(audited if possible)
  • Latest management accounts
  • Monthly cash flow projections for 12 months
  • Yearly cash flow projections for 36 months
  • Memorandum and Articles of Association (companies)
  • Partnership Agreement (partnerships)
  • Certificate of Incorporation (companies)
  • Constitution (other institutions)
  • Resolution to borrow (certified by company secretary)
  • Proof of shareholding (Forms 2 + 5)
  • Past 3 months’ bank statements of the business entity
  • Proof of business premises : utility bill (i.e. electricity or water or automated alarm,etc)

General Documents for Directors

  • CV’s for all directors
  • Any other additional information considered valuable towards the evaluation of the application
  • Personal balance sheets for all directors 
  • Proof of current residential address for all directors : utility bill (i.e. electricity/water/automated alarm)
  • Original/certified copy of work and residence permit/s for all expatriate directors
  • Bank account details for all directors (to enable us to request Bank reports)
  • Original/certified copy of Marriage Certificate/ante-nuptial contract/decree absolute (if applicable) for all directors
  • Original/certified copy of Omang for all directors (Batswana)/passport (expatriates). If married, the same documents are required for spouses

Please Note: Matrimonial and spouse identity documents are for our internal use of capturing personal information and we request that they be submitted, for spouses that are not directors.

Proof or Asset

  • ORIGINAL Motor Dealer’s quoteORIGINAL Roadworthiness Certificate for used vehicles
  • Copy of the Registration Book for used vehicles

Basic Information

  • The  minimum deposit is 10% for personal use vehicles and 20% for commercial vehicles. The Bank reserves the right to call for a higher deposit.
  • The base rate is the Prime Lending Rate
  • Comprehensive insurance cover is compulsory and is offered through the Bank’s insurers
  • The maximum loan term for new vehicles is 5 years
  • The maximum loan term for used vehicles is 4 years
  • The Bank conducts credit reference checks
  • Payments are effected after approval of the loan
  • Payment is made directly to the dealer