A Car Loan enables you to finance the purchase of a car, which at the moment of purchase is not older than 3 years.
Down-payment required:
- New Cars – Minimum 25%
- Used Cars – Minimum 25% depending on the age of the vehicle
The amount of the loan depends on your financing need, your income and your expenses.
- Your partner’s income can be included in the loan should you wish that.
- Maximum term* New cars - Five Years; Used Cars - Three Years
- Longer loan terms are possible in consultation.
- The monthly installment depends on the loan term, the amount of the loan and the interest. The loan term and the monthly installments are stipulated in advance and will not change.
View Employment Requirements
Employment Status:
- Permanent, temporary*, contract* and self –employed individuals.
- Individuals classified as temporary or contract will be assessed on a case by case basis.
- Employment tenure.
- Minimum one year.
- In case client is less than 1 year with current employer but has a co-borrower (who meets all standard criteria) then the loan shall be proposed.
- In case the client works on a contract basis the loan must be repaid within the contract period.
Employment Status:
Eligibility includes companies that are:
- The employer must be a well established company in Suriname or the employer should send an extract of the Chamber of Commerce.
Standard documentation:
- The last pay slips (monthly salary) or 2 last pay slips (bi-weekly salary).
- Employers letter of the employer not older than 1 month. Existing clients, with a good credit performance, applying for a 2nd loan the recent pay slip will be sufficient.
- Valid identification: passport, Surinamese drivers’ license or Suriname’s/Dutch Identification Card
- If third parties should be paid off, a balance statement will also be required.
For retired client:
- A retirement letter is required.
- For clients who receive a benefit or pension, an annual statement is required.
- Residency criteria.
- Client must be a permanent resident of Suriname.
Clients with non-Suriname nationality with the following permits do qualify for a loan and can be approved at branch level:
Permit of self employed clients:
- Permit to stay without limitations, The permit must indicate “valid for an unlimited period”. In Dutch: “Verblijven/ geen beperking” and “geldig voor onbepaalde tijd”;
- Permits “married and living in with”: loan contract must be on both names and via the extract from the Registry (“Bevolkingsregister”) it should be verified if both are living at the same address. In Dutch: “Gehuwd met ”;.
- In all above mentioned situations, the clients must present an extract from the Registry indicating the date of registration in the Registry.
- Age criteria.
- Minimum required age is 21 years. Clients in the age group between 18 and 21 years need a guarantor.
- Maximum age is 60 years. The last payment must be scheduled latest the month before the client’s 60th birthday. In case of clients older than 60 years, no coverage in case of death under the bank’s program is possible. In all cases where the client reaches retirement age during the tenor of the loan, the repayment capacity calculation must be made based on the current and the pension income. Client must be able to carry the loan in both scenarios.
- Salary assignment is highly recommended. Your salary should be automatically transferred to RBC Royal Bank.
- Credit checks are mandatory.
- At the moment of purchase the car should not be older than 3 years. The loan should be fully paid off before the car is six years old.
- Vehicle will be held as collateral. The car should be insured “All Risk” for at least four years.
A Personal Loan enables you to have enough funds to finance a specific purpose.
- The amount of the Personal Loan depends on your financing need, your income and your expenses. The loan amount can vary between SRD 1,000 and SRD 30,000.
- Your partner’s income can be included in the loan should you wish that.
- The loan term can be from 1 to 3 years. Larger loan amounts or longer loan terms are possible in consultation.
- The monthly installment depends on the loan term, the amount of the loan and the interest. The loan term and the monthly installments are stipulated in advance and will not change.
- From the moment that you dispose of the funds, you begin to pay off on your loan until you have reached nil.
- You are completely free in the allocation of the funds. In case you want to obtain for example a car that is older than 3 years, you can do that with a personal loan.
View Employment Requirements
Employment Status
- Salaried individuals including permanent, temporary and contract individuals.
- Self employed clients.
- Clients who are owners of a sole proprietorship (“eenmanszaak”) must be sent to the Credit Officer. Owners of limited liability companies (“NV”) are handled by the Corporate Department.
Required additional documentation:
- Statement of income / Financial reports of at least two previous years, to be approved by the Senior Manager Corporate & Commercial Banking, in his absence the Managing Director/President.
- Copy of the extract of the Chamber of Commerce not older than 3 months.
- Taxi and ‘Autobus’ drivers may be approved at branch level, taking into consideration a net income of >> SRD 2.500.00
- Individuals classified as temporary, contract and self-employed will be assessed on a case by case basis.
- Employment tenure.
- Minimum one year.
- In case client is less than 1 year with current employer but has a co-borrower (who meets all standard criteria) then the loan shall be proposed.
- In case the client works on a contract basis the loan must be repaid within the contract period.
Employer profile – Eligibility includes companies that are: The employer must be a well established company in Suriname or the employer should send an extract of the Chamber of Commerce.
Standard documentation:
The last pay slips (monthly salary) or 2 last pay slips (bi-weekly salary). Employers letter of the employer not older than 1 month. Existing clients, with a good credit performance, applying for a 2nd loan the recent pay slip will be sufficient. Valid identification: passport, Surinamese drivers’ license or Suriname’s/Dutch Identification Card If third parties should be paid off, a balance statement will also be required For retired client: a retirement letter is required. For clients who receives a benefit or pension an annual statement is required Residency criteria Client must be a permanent resident of Suriname.
Clients with non-Suriname nationality with the following permits do qualify for a loan and can be approved at branch level:Permit of self employed clients:
- Permit to stay without limitations: The permit must indicate “valid for an unlimited period”. In Dutch: “Verblijven/ geen beperking” and “geldig voor onbepaalde tijd”;.
- Permits “married and living in with”: loan contract must be on both names and via the extract from the Registry (“Bevolkingsregister”) it should be verified if both are living at the same address. In Dutch: “Gehuwd met ”;
- In all above mentioned situations, the clients must present an extract from the Registry indicating the date of registration in the Registry.
- Age criteria.
- Minimum required age is 18 years. Clients in the age group between 18 and 21 years need a guardian
- Maximum age for Personal Loans is 60 years. The last payment must be scheduled latest the month before the client’s 60th birthday.
- Salary assignment is highly recommended. Your salary should be automatically transferred to RBC Royal Bank.
- Credit checks are mandatory.