Wema Assets Acquisition Scheme was introduced to ease the financial burden of it’s customers and non- customers alike wanting to acquire various assets and household equipments. The product is targeted primary at salary earners wanting to acquire personal assets like cars, satellite dish, gas cookers, personal computers, refrigerators, washing machines, air-conditioner, generating set, electronics, deep freezers etc.

Features:

• Cost of assets shall be N.2m minimum and no limit. However, the bank’s contribution for any given transaction is a maximum of N3million.
• Minimum equity contribution is 30% of the cost of asset(s) while the bank will contribute 70% of the cost.
• Confirmed employee with a Gross Annual Income of at least 200% of the facility.
• Employers’ written commitment of direct deduction of monthly payment from beneficiary’s salary and remitting same to the Bank.
• Employers’ written commitment to domicile terminal benefit of a beneficiary to the bank incase of his/her termination or retirement.
• Considerate and convenient terms of repayment of between 18-24 months.
• Bank to comprehensively insure the asset(s) financed and the premium will be paid alongside the equity contribution by beneficiaries.

Benefits:

• An opportunity to acquire essential household items now and pay later.
• Easy hedge against inflation.
• Competitive and attractive interest rate.
• Convenient term of repayments.

Application Requiments:
· Application letter.
· Letter of commitment from the employer stating the net realizable terminal benefit you are entitled to as at    the time of making your request, as well as your annual salary package.
· For motor vehicle, the manufacturing date of the vehicle must not be more than ten (10) years. An    Engineer will be commissioned by the bank to inspect and report on the physical state of the vehicle and    the cost will be borne by the applicant.
· Three (3) months pay slip.
· Six (6) months statement of account.
· Duly completed application form.
· Proforma invoice from any reputable vendor of your choice.

Qualifying Assets
- Personal automobiles e.g. Cars                      - Satelite Dish
- Gas Cookers                                                 - Personal Computers plus Notebooks
- Refrigerators                                                  - Washing Machings
- Air-conditioners                                             - Stereo CD [Electronics]
- Deep Freezers                                               - Generating Sets [diesel-powered, min. of 5KVA]