The Logbook Finance (LBF) Loan enables customers to apply for funds using their Motor Vehicle Logbook as the security. The Motor Vehicle Logbook must be registered in the names of the loan applicant.
The maximum loan amount issued under the Logbook Finance (LBF) Loan is UGX 50 million while the minimum is UGX 3 million. Platinum Credit does not park vehicles for clients who take a Logbook Finance (LBF) Loan. The customer continues driving their car upon receipt of the loan and a caveat through URA is placed on the Logbook.
The loan repayment term period is either 18 or 24 months. Customers can apply for this loan via our USSD Code *249# and it’s accessible across all our branches countrywide. The customer can clear this loan anytime without any early settlement fees charged.
Requirements
- Verifiable Income
- Motor Vehicle Logbook in the applicant’s name.
- Current Six (6) months Bank Statement or Mobile Money Statement
- If employed, three (3) most recent pay slips or Valid Work I.D or Employment Contract
- Coloured Passport Photo
- Valid National ID / Passport
- Car Valuation and URA Vehicle Logbook Search
- Comprehensive Insurance of the vehicle covering the loan term