Frequently Asked Questions

The loan and interest thereon is repaid using one of the following methods depending on the terms chosen by the borrower:

• Monthly, loan instalments are calculated using the annuity method;
• Monthly, loan principal is repaid in equal installments and interest is accrued on the loan outstanding.

Early loan repayment takes place without limitations and charges.
 

• You pay your down payment for a car in the cash office of the car dealership or the bank;  
• You conclude a purchase and sale agreement with the car dealership;
• The vehicle is registered with the State Traffic Inspection. This can be done by the car dealership manager, or you can do it yourself;  
• Car dealership employee draws up a set of documents and gets approval of the date of disbursement from the employee of the bank;
•  All the necessary documents are signed in the outlet of the bank;
•  A current account is opened in your name and money is transferred therefrom to the car dealership’s account to pay for a car;  
• As soon as the car dealership sees the money in the account, you can get your car.              
   

If the price of the vehicle went up, you have the following options:  

• If you can increase the amount of down payment so that the loan would not exceed the amount stated in the Letter of Intent, then the loan decision is not reconsidered;  
• If you do not have a possibility to increase your down payment and you would like to have your loan amount increased or the other loan terms changed, then it is necessary to have the decision approved once again.  
   

• To change a car, you need to address a certified car dealership that has a car you need and take the following steps:  
• Submit the same set of documents;
• Update income statement if it has been issued more than 14 days ago;
• Have your loan application approved once again;
• Get a new Letter of Intent and have the previous one cancelled.
   

To change lending terms and conditions you need to address either a car dealership, or an outlet of the bank depending on where the documents for a loan application were initially submitted. 

If you want to increase your down payment, you can do that without any additional approval from the bank.  

If you want to reduce your down payment, change validity period of the loan, switch to another lending program or change the interest rate, you have to: 

• Submit the same set of documents (to the car dealership or the outlet);
• Update income statement if it has been issued more than 14 days ago; 
• Have your loan application approved once again; 
• Get a new Letter of Intent and have the previous one cancelled.   

• Once a positive decision is made, the bank draws up a Letter of Intent in the name of the customer. This document confirms a possibility of receiving a loan;
• The Letter of Intent contains any and all parameters of the loan, lending terms and conditions, as well as any additional documents mandatory for loan acquisition by the customer. Fulfillment of the terms and conditions of the Letter of Intent is a mandatory prerequisite;
• The Letter of Intent remains in force for 60 days from the moment of its issue;
• You can get only one valid Letter of Intent at a time. If the customer wants to change lending terms and conditions, a vehicle or a car dealership, one of the Letters of Intent will be cancelled on a mandatory basis.
   

• Positive credit history provides additional evidence of the borrower’s solvency; 
• Absence of concealed loans, attachments and encumbrances over both movable and immovable property;
• Documents that confirm ownership of assets. Assets the customer bought for his/her own funds or on credit provide an advantage (cars, tractors, equipment, other movable property, apartments, houses, land plots, deposits, shares in business, etc);

The customer may improve his/her chances of a positive decision, if he/she provides documents about the customer’s business or additional income, namely:

• Lease agreements for premises;
• Account statements about cash flows;
• Service agreements;
• Product purchase agreements;
• Work completion reports (agreements);
• Regular financial aid from the relatives working abroad (bank certificate about the incoming funds for the last 6-12 months, or the account statement, or receipts for the last 6-12 months confirming received electronic money transfers).  

All the documents submitted to the car dealership at the moment the bank receives a loan application should be provided, namely:

Documents about the customer’s identity/income:

• Passport of the citizen of Ukraine or a national passport of the citizen of another country (with a record about a permit for permanent residence in Ukraine) together with a certificate of permanent residence;
• Tax ID number (TIN) or a copy of the passport page with a record about the right to carry out any payment transactions using the series and number of passport;
• Marriage certificate (if the customer/surety/property surety is officially married);
• Divorce certificate or a court ruling about the dissolution of marriage with a record confirming its effectiveness (if the marriage of the customer/surety/property surety has been dissolved);
• Original documents confirming income of the customer, his/her spouse, financial surety (income statement for a work-for-hire worker, tax declarations for private entrepreneurs).    

In case spouse/surety/property surety of the customer is absent at the moment of the agreement conclusion:

• Notarized application confirming consent of the customer’s spouse to loan acquisition and provision of the car purchased on credit to the bank as collateral;
• Notarized application confirming consent of the property surety’s spouse to provision of the car purchased on credit to the bank as collateral;
• Notarized application confirming consent of the surety’s spouse to the surety agreement conclusion.

Documents for a car being purchased: 

• Concluded vehicle purchase and sale agreement;
• invoice (or vehicle specification, or vehicle bill of lading);
• vehicle registration certificate (technical passport);
• document confirming a down payment for the vehicle (payment instruction, receipt, second copy of the credit slip, payer’s current account statement, etc);
• CASCO insurance policy or Third Party Liability policy,

as well as other original documents provided to the car dealership for making a loan application to the bank.

• Minimum loan amount - USD 2,000 (in equivalent);
• Maximum loan amount - USD 100,000 (in equivalent).;

• The Borrower’s passport and copy of passport of the Borrower’s spouse (all pages containing information);
• Certificate from the tax authorities about the assignment of the tax ID number to the Borrower; 
• Car selection certificate, vehicle specification or invoice;
• Other documents requested by the Bank;

Documents to be submitted by a private individual:

The proof of employment of the Borrower and/or his/her spouse certified by the accounting office no more than 2 weeks prior to the day of its submission to the Bank, which contains the information about the position of the Borrower and/or his/her spouse and salary accrued for the last six months.

Documents to be submitted by a private entrepreneur (PE):
State Registration Certificate of the private entrepreneur or abstract from the Unified State Register of Legal Entities and Private Entrepreneurs.

For private entrepreneurs working under the simplified taxation scheme:

• Certificate of paying a single tax;
• Tax return of the private entrepreneur paying a single tax:
  - For the first and second groups of payers of the single tax - for the last 2 years
  - For the third and al the following groups of payers of the single tax - for the last 5 quarters.

For private entrepreneurs working under the general taxation scheme:

• An extract or certificate from the Unified State Register of Enterprises and Organization of Ukraine with the information about the main types of activity;
• Property status and income tax declaration for the last 2 (two) years.

Sailor customer has to submit the following:

• seaman’s passport;
• certificate of a crewing company containing the date of the next trip, starting date of the sailor’s employment with the relevant crewing company and name of his position; 
• contracts and sailing certificates for the last two years;
• financial surety (if the customer’s spouse is unemployed or gains low income as compared to the monthly loan installments);

Customer who is a CEO and owner (full or partial) of the organization where he/she works:

• Charter of the company;
• Financial statements of the company (F1 and f2) for the 4th quarter of the previous year and the last quarter of this year; 
• Appointment order;
• Company’s state registration certificate;

Customer having outstanding or repaid loans:

• Bank’s certificate about the Customer’s loan outstanding and its quality, loan repayment discipline being specified;
• Loan agreements and repayment schedule;

Customer living on the territory of Ukraine with a certificate of permanent residence:

• certificate of permanent residence (INDEFINITE);
• identification code;
• income statement or reports for the private entrepreneurs (income should be gained on the territory of Ukraine);
• confirmation of property rights to immovable property on the territory of Ukraine.

To draw up a car loan application you should address either a car dealership, or an outlet of the Bank, depending on the lending program. 

Depending on which of the above options you have chosen, the process of document submission and drawing up an application for a car loan takes place differently and lending terms and conditions differ as well. 

If you have submitted documents to the car dealership:

A car dealership manager takes care of the document collection and approval of the loan application up to the moment of receiving a Letter of Intent.

If you have submitted documents to the outlet of the Bank:

An employee of our Bank takes care of the document collection and approval of the loan application up to the moment of receiving a Letter of Intent.

We cooperate only with official car dealerships and importers in Ukraine. Once you have decided what car you want to buy on credit, you have to choose a credit product.

There are two main types of credit products for buying cars in our Bank:

• Special lending programs developed together with car dealerships;
• Standard lending terms and conditions effective in the outlets of the Bank.