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Kenya

NCBA Bank, Toyota Kenya announce improved deal to finance car buyers

NAIROBI, Kenya, Jun 17 – NCBA Bank has renewed its one-of-a-kind financing scheme that will allow Toyota Kenya customers to access the finances to purchase new Toyota and Suzuki vehicles.

Through the enhanced NCBA asset financing package, the scheme offers our customers up to 95 percent financing, 60 days repayment holiday for all Toyota, and Suzuki models with a discounted facility fee of 1 percent and 1.5 percent for repeat and new customers respectively.

NCBA Bank’s Group Director, Asset Finance and Business Solutions, Alan Dodd noted that the two companies have enjoyed a good business relationship over the years and the deal seeks to reaffirm NCBA’s commitment to offer a strong value proposition for customers who are keen on acquiring vehicles for business use.

“Given the current economic challenges, the bank remains committed to supporting our customers through unique solutions that will sustain them for the long term. We believe that banks will have to play a key role in the post-Covid recovery. We have continued to offer financing through our online application platform where customers can enjoy convenience and the fastest approval turnaround time in the market”.

Toyota Kenya Manging Director Arvinder Reel noted the significance of the continued relationship with NCBA Bank, especially at a time that is crucial in supporting businesses offering essential services amid the Covid-19 pandemic.

“The pandemic has hit the economy in a big way, rendering acquisition of assets by enterprises a daunting task. We are optimistic that as we extend our relationship with NCBA Bank, business in different sectors have options to expand their operations as they bid to support the country’s economy.

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