• Calculate your net monthly income, that is, your salary less any deductions.
• Calculate monthly expenditure including debts, mortgages, rent, insurance, groceries, spending money, clothing etc.
• Calculate how much money you can deposit - remember the higher your downpayment, the lower your monthly payment.
• Don't Forget - driving a car has its own expenses including: gas, insurance, regular maintenance and inspection of vehicles over five (5) years of age.

In determining the amount which we can lend to you, we will consider your total debt service ratio, which is the percentage of your before-tax salary that is already committed to repayment of loans or other forms of borrowing. Your debt service ratio will include loan payments, mortgage payments, credit card payments and hire-purchase payments.

Your total payments should not be more than 40% of your before-tax salary.

When borrowing for any purpose, customers are required to provide the following:

• Valid personal identification (Passport, Driver's License, National Identification Card).
• Evidence of Income -
• For salaried persons - current job letter and last 3 pay slips
• For self-employed persons - recent financial statements or income verification from your bank
• Statements of savings or evidence of assets, if these will be used as security (e.g. savings or investments, share certificates, etc)
• Proof of intended use of funds:
• For purchases (vehicle, appliance or furniture) an invoice is required
• For home repairs, estimates will be required
• For repayment of loans or debt consolidation, a settlement or repayment letter from the lender
• For education purposes, an invoice from the institution. A letter of acceptance is required for tertiary level education
• Utility bill for address verification may be required

Additional documentation may be requested depending on the nature of the loan. Some examples are listed below.

Car Loans

• Registration papers
• Vehicle title
• Valuation report not older than 6 months

Home Equity Loans

• Property title
• Valuation report
• Property tax receipt
• Up to date insurance for any building on the property

Applicable fees
The cost for any searches, legal costs and insurance premiums must be taken into consideration as you make your final purchase decision. The insurance premium can be paid in cash or financed through a separate loan.