Banif Bank has given its Car Loan a fresh new look focusing on the concept - ‘It’s all about the journey!’ Boasting a range of features and very competitive rates, the Car Loan forms part of Banif’s ‘Personal Loans Plus Protection’ line of products, offering financing solutions to customers, with the benefit of added protection.
With today’s fast-paced and hectic routines, people are often so focused on getting where they need to be that they miss out on the little things that make the ride enjoyable. It’s not just about the destination, but how you get there and who you share it with – this ethos permeates every level of the ‘It’s all about the journey!’ concept evident in the use of vibrant visuals with the stunning Maltese countryside as a backdrop. The Bank has also collaborated with exciting up and coming local act The New Victorians, to feature a track off their new album in a commercial.
The Car Loan from Banif Bank offers an interest rate of 5%* per annum for those seeking to buy a new or second-hand car. Customers can borrow up to 100% of the value of the car, provided it doesn’t exceed €30,000, and benefit from lower monthly repayments by spreading the loan over a period of up to 8 years. Extra repayments may be made to settle the loan earlier without incurring any costs.
Along with other products under the ‘Personal Loans Plus Protection’ line, the Car Loan includes an insurance policy taken out by the Bank in its name, which protects customers and their families in the case of unforeseen circumstances such as accidental death, temporary or permanent total disablement or redundancy.
“We believe that the protection feature is what really sets our loans apart from others on the market,” said Dirk Spiteri Lucas, Head of the Business Strategy Unit at Banif Bank. “With it, you can sit back and enjoy the journey without having to worry about your lifestyle, or that of your loved ones, in the case of any unfortunate events. This key advantage, along with our competitive rates and various financing options, means that getting in the driving seat has never been easier.”
More information about the Car Loan from Banif Bank, including the terms and conditions, are available from the Bank’s website www.banif.com.mt. Clients may also contact Customer Care on 2260 1000 or visit any Banif branch.
*The loan is subject to the Bank’s lending criteria. ‘Personal Loans Plus Protection’ incorporate an insurance cover that protects clients in case of accidental death, temporary or permanent total disablement or redundancy. Banif Bank (Malta) plc shall be the policy holder. Details relating to the policy are available on the Bank’s website (banif.com.mt).
Banif Bank (Malta) plc is a credit institution licensed to undertake the business of banking by the MFSA in terms of the Banking Act 1994.
A typical example is based on a loan of €10,000 repayable through monthly instalments of €126.93 over a period of 8 years at a variable interest rate of 5% p.a. Loan is subject to an administration fee of 4% on the monthly instalment. The total sum payable throughout the term of the loan is €12,672.96, at an APR of 6.57% p.a.