Motor Vehicle Loan

Driving You from Dreams to Reality!
Buying a vehicle has never been much easier. At BRED Bank, we make owning a vehicle easy for you. Apart from choosing the model and colour that suits your style, a challenging decision you'll face is financing your purchase.

Whether it’s a brand new or a second hand vehicle; we have a choice of loan that will get you behind the wheel! Plus with your loan secured by your vehicle you will enjoy the benefit of low interest rate.

Features and Benefits

  • 10% deposit on purchase of brand new vehicle.
  • 15% deposit on purchase of second hand unregistered vehicle.
  • 20% - 35% deposit for registered vehicles.
  • Competitive interest rates.
  • Interest is calculated on reducing balance.
  • Repayment term up to 7 years for new vehicles, 5 years for unregistered second hand vehicles and 3 years for used vehicles less than 10 years old.
  • Extra payments allowed without any fees or charges
  • With SUN Insurance as our Insurance partner your vehicle will be in safe hands. Some benefits include*:
    • Flood and cyclone damage coverage to your vehicle without any additional premium.
    • Passenger risk and third party property damage up to $1,000,000.00.
    • For “firm out” brand new vehicles where your vehicle is involved in an accident and written off within 12 months of being registered, we will replace your vehicle with a similar make and model.
    • Accidental death benefit up to $5,000.00.


How do I apply for a Motor Vehicle Loan?

To help us assess your loan application quicker, we advise you to bring the following information when visiting your nearest BRED Bank Branch:

  • Photo ID.
  • Car quotation.
  • 3 latest pay slips.
  • Copy of 1 year bank statement of your personal account.
  • Employment confirmation letter from your employer.
  • TIN Letter of FRCA/FNPF Joint card.
  • Statement for hire purchase or any other outstanding liabilities.
  • Evidence of deposit.
  • Salary credit to BRED Bank or source deduction.
  • Any other relevant information to support your application.

For more information you may write to us at BRED Bank branches are located in Suva, Nausori, Nadi, Namaka and Lautoka. In addition, BRED Bank has a Kiosk at Tappoo City Building, Level 4.


Fees and Charges  
Facility Approval Fees:  
Up to: $20,000.00 $250.00
$20,000.00 - $50,000.00 $400.00
Above $50,001.00 1% of the Loan Amount
Service Fee:  
Up to: $20,000.00 $20.00 per month
$20,000.00 - $50,000.00 $25.00 per month
Above $50,001.00 $35.00 per month
Arrears Fee:  
$25 applicable when repayment not paid in full within 5 days from repayment due date.
Inspection Fee: $40.00 per inspection
Terms and Conditions apply.
*SUN Insurance Terms and Conditions apply.