Leasing FAQs
DFCC Lease financing is; “The owner of an asset (Lessor - DFCC) gives another person (Lessee), the right to use that asset (vehicle, machinery or equipment of lessee's choice) against periodical payments (Lease Rentals).
DFCC transfers ownership of the Leased asset from DFCC to the Lessee at the end of the Lease period.
Brand new, reconditioned or registered vehicles. Brand new or used equipment, machinery or appliances which are in good order.
DFCC Bank: Absolute owner
Lessee: Registered owner
Maximum up to 7 years.
- Fixed monthly payments calculated based upon lower interest rate.
- Depend upon the client’ cash flows, rental schedule can be structured in order to make sure easy repayments.
Individuals, professionals, fixed salary earners, entrepreneurs, and Co-Borrowers over the age of 18 years or proprietors, partners, companies, and other corporates, with the requirement of acquisition of assets together with repayment capacities, are eligible for DFCC Leasing.
You can visit a branch of your choice and discuss your requirement with the officers. They will educate and guide you through the application process.
- Copy of Business Registration.
- Copy / copies of National Identity card / Driving license / passport.
- Copy of Certificate of Registration (CR) Book – if the vehicle is registered,
- Pro-forma Invoice from the seller addressed to the bank,
- Bank statements for past 6 Months,
- Valuation report addressed to the Bank (if a registered vehicle).
- Documents detailing income or other resources to establish repayment capacity.
- If the client’s rating is BBB and above and Loan To Value ratio of the asset is 70% or below, No down payment is required.
- Down payment of other facilities would depend on the type and face value of the vehicle or equipment and period of the lease agreement. (Negotiable)
Only Personal guarantees are called for, as security and the details are as follows.
If Loan To Value ratio (LTV) is less than 50% - No guarantors required
If Loan To Value ratio (LTV) is 51% to 70% - 1 Guarantor
If Loan To Value (LTV) ratio is over 70% - 2 Guarantors
If the assets are Machinery, equipment, and 2 & 3 wheelers - 2 Guarantors
You can pay your monthly rental through depositing/ remitting funds to your DFCC account which you have instructed as the lease recovery account.
The services are provided by experienced and qualified officers with very attractive lease rentals which are calculated based upon lower interest rates. Hassle free documentation, quick approvals, efficient, and quality services are other benefits. The bank provides advisory services through well experienced service experts.
