Vehicle Loan
Who is eligible to apply for a vehicle loan at the NIS?
To be eligible for a vehicle loan at the NIS you must be:
- An NIS contributor between the ages of 21 and 60.
- The applicant or at least one of them must be resident citizen of Grenada.
For what purposes I can get a vehicle loan from the NIS?
You can get a vehicle loan the following purposes:
- Purchase new vehicle.
- Purchase used vehicle not older than 10 years.
What are the required documents?
Applicants for vehicle loans must submit the following documents:
- Vehicle quote/invoice (for new).
- Vehicle valuation (for used).
- Quote for vehicle insurance.
- Copy of driver’s license.
- Proof of income (recent pay slip & job letter).
- Evidence of ownership of, or title to the land.