common questionsABOUT LEASING & FIXED DEPOSITS

For a salaried individual:

• Proof of identity (ID card or valid passport)
• Proof of address not older than 3 months old (e.g. utility bill – MT/CWA/CEB)
• Bank statements for last 6 months
• Latest pay slip
• Proforma invoice

For a self-employed individual:

• Proof of identity (ID card or valid passport)
• Proof of address not older than 3 months old (e.g. utility bill – MT/CWA/CEB)
• Bank statements for last 6 months
• Certified copy of Business Registration Number (BRN) card
• Trade licence
• Financial/Management accounts (if available)
• Financial forecast (If available)
• Business plan (If available)

For a corporate:

• Certificate of incorporation
• Proof of address not older than 3 months old (e.g. utility bill – MT/CWA/CEB)
• Memorandum & Articles of Association or Application for incorporation pack
• Latest list of directors & shareholders
• Last audited financial accounts
• Financial forecast for next 3 years (Start-up only)
• Bank statements for last 3 months
• Proof of identity for at least 2 directors (ID card or valid passport)
• Proof of address not older than 3 months old for at least 2 directors (e.g. Utility Bill – MT/CWA/CEB)
• Proof of identity for shareholders holding at least 20% of capital (ID card or valid passport)
• Proof of address not older than 3 months old for shareholders holding at least 20% of capital (e.g. Utility Bill – MT/CWA/CEB)
• Business Registration Number (BRN) Card
• Board resolution
• Proforma invoice

We apply a range of competitive interest rates, which vary according to your project. Details are available on demand.

Fees applicable can be split into the categories below:

• A processing fee of 1% of the lease amount charged by the lessor (Minimum Rs 5,000)
• Fees charged by regulatory bodies like Registrar General Department, NTA, etc.

The period of a lease varies according to the age of the vehicle:

• Up to 7 years for new vehicles
• For second hand/reconditioned vehicles, the age of the vehicle must not exceed 8 years at the end of the lease period

The amount of deposit required will depend on your project. Details are available on demand.

A full comprehensive insurance cover taken from the insurance partner of your choice needs to be in place over the whole lease period.

You need to settle the residual amount before collection of the sales deed in order to transfer the asset in your name.

In addition to the need to strictly abide to all legal requirements and establishing contact with the insurance company, you need to inform La Prudence Leasing Finance Co. Ltd so that we can follow up with the insurance company.