Public employee loan for bicycles and motorbikes
The Ministry of Transport and Communications in partnership with Banco Terra launched a project to promote a massive use of the bicycles and motorbikes, with an aim of reducing the life expenses of public employees. It is believed that all the state employees who join the project will certainly circulate easily and it will reduce considerably their cost of transportation. Banco Terra, acting as an exclusive funding agent, is now financing the purchase of bicycles and motorbikes. Ask for your financing now!
Features
Financing of motorbikes up to 125cc, Simple, Electric and motor bikes;
Maximum financing term limit of 4 years
Maximum financing amount of 100.000,00MT;
Successive equal monthly instalments at a rate of 17,80% (nominal annual percentage rate).
Requirements
To be a public employee
Fill out the loan application form
Provide a copy of identity document of the applicant and spouse (if married).
NUIT;
Updated receipt of salary;
Pro forma invoice of the good (motorbike or bicycle) to purchase;
Access Scheme
The DAF provides the salary receipt and a letter confirming the eligibility of the applicant, as well as NUIT. The documents are then submitted to the Ministry of Transports and Communications to be later submitted to Banco Terra. The Bank analyses the documents and other technical aspects according to the borrowing capacity of each beneficiary; Banco Terra prepares the financing contract which shall enters into force once signed and recognized by the Notary Services. Banco Terra disburses the funds and sends a copy of the contract to the DAF, which includes the applicant’s authorisation for the discount value of the monthly salary. In turn, DAF instructs SISTAFE for value transfer provision to Banco Terra when processing monthly salary.