Driving You from Dreams to Reality!
Buying a vehicle has never been much easier. At BRED Bank, we make owning a vehicle easy for you. Apart from choosing the model and colour that suits your style, a challenging decision you'll face is financing your purchase.
Whether it’s a brand new or a second hand vehicle; we have a choice of loan that will get you behind the wheel! Plus with your loan secured by your vehicle you will enjoy the benefit of low interest rate.
Features and Benefits
- 10% deposit on purchase of brand new vehicle.
- 15% deposit on purchase of second hand unregistered vehicle.
- 20% - 35% deposit for registered vehicles.
- Competitive interest rates.
- Interest is calculated on reducing balance.
- Repayment term up to 7 years for new vehicles, 5 years for unregistered second hand vehicles and 3 years for used vehicles less than 10 years old.
- Extra payments allowed without any fees or charges
- With SUN Insurance as our Insurance partner your vehicle will be in safe hands. Some benefits include*:
- Flood and cyclone damage coverage to your vehicle without any additional premium.
- Passenger risk and third party property damage up to $1,000,000.00.
- For “firm out” brand new vehicles where your vehicle is involved in an accident and written off within 12 months of being registered, we will replace your vehicle with a similar make and model.
- Accidental death benefit up to $5,000.00.
How do I apply for a Motor Vehicle Loan?
To help us assess your loan application quicker, we advise you to bring the following information when visiting your nearest BRED Bank Branch:
- Photo ID.
- Car quotation.
- 3 latest pay slips.
- Copy of 1 year bank statement of your personal account.
- Employment confirmation letter from your employer.
- TIN Letter of FRCA/FNPF Joint card.
- Statement for hire purchase or any other outstanding liabilities.
- Evidence of deposit.
- Salary credit to BRED Bank or source deduction.
- Any other relevant information to support your application.
For more information you may write to us at customer.care@bred .com.fj. BRED Bank branches are located in Suva, Nausori, Nadi, Namaka and Lautoka. In addition, BRED Bank has a Kiosk at Tappoo City Building, Level 4.
| Fees and Charges | |
| Facility Approval Fees: | |
| Up to: $20,000.00 | $250.00 |
| $20,000.00 - $50,000.00 | $400.00 |
| Above $50,001.00 | 1% of the Loan Amount |
| Service Fee: | |
| Up to: $20,000.00 | $20.00 per month |
| $20,000.00 - $50,000.00 | $25.00 per month |
| Above $50,001.00 | $35.00 per month |
| Arrears Fee: | |
| $25 applicable when repayment not paid in full within 5 days from repayment due date. | |
| Inspection Fee: | $40.00 per inspection |
| Terms and Conditions apply. *SUN Insurance Terms and Conditions apply. |
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