- Bancassurance (Insurance)
It is intended for the purchase of new vehicles sold by dealers authorized by the Ministry of Transport.
Note: The vehicle is owned by the Client with reservation of title in favor of the Bank as long as there are installments or rents to be amortized.
Ease of purchasing a new vehicle for personal use.
Up to 85% of the amount indicated on the dealer's invoice, it being mandatory that the customer has a minimum contribution of 15%.
In credit products, VAT has replaced stamp duty. Previously, 0.7% were charged in fees in price lists, now 14% VAT will be charged.
- Being a BAI Customer for at least 6 (six) months;
- Having a salary domiciled at BAI for at least 3 (three) months;
- Legal-employment relationship with an employer (public or private) confirmed with the
- existence of an indefinite contract.
- Letter of credit request (1);
- Proforma invoice for the vehicle;
- Photocopy of the identity card;
- Photocopy of the taxpayer card;
- Salary Consignment Declaration;
- Photocopy of the last 3 (three) salary receipts;
- Updated residence certificate or Address Confirmation Statement (2);
Note 1: The application letter must mention: the type of credit; purpose; the amount; the credit guarantees to be offered.
Note 2: The address confirmation statement must be completed only if: the customer does not provide proof of the current address (residence certificate, water, electricity or telephone bill); or the address indicated on the identification document does not correspond to the customer's current address (one must attach the copy of the declarant's identification document and proof of residence to the address confirmation statement and fill out the account opening form to update the data.
- Motor insurance (during the term of the credit);
- Reservation of ownership of the car in favor of BAI;
- If the guarantee to be presented is different from that referred to, complementary documentation will be indicated by the Bank.
The effort rate corresponds to the percentage of the net income (in this case the salary) destined to the payment of the credit installment (or credits). The Bank must take into account other responsibilities that the interested party may have at BAI or other financial institutions. The effort rate is calculated according to the formula:
Effort rate = (Monthly financial charges / Income) x 100.
Ex: (Credit installment (s) 500 / Net salary 2000) / 100 = Effort rate 33.3
At their account domiciliation branch.
Up to 10 (twenty) working days.
Account domiciliation desk.