KCB Bank and Deluxe Trucks and Buses Sign Asset Financing Agreement
KCB Bank and Deluxe Trucks and Buses Sign Asset Financing Agreement.
KCB customers will now be able to access flexible financing options in a deal with Deluxe Trucks & Buses East Africa Ltd. The partnership announced today, will see customers enjoy up to 95% funding with an extended repayment period of 72 months as well as a comfortable 60-day payment holiday.
In addition, customers will have the privilege to access an embedded tracking and insurance package and access to unsecured working capital of up to 3 million among other bank products available at the bank.
Also catered for are KCB SAHL Banking customers who under the Shariah-compliant banking model, will be able to purchase trucks from Deluxe Trucks & Buses at affordable rates.
Speaking during the event, KCB Bank Director of Corporate Banking, Esther Waititu noted that the arrangement is in line with the Bank’s vision to leverage partnerships that seek to provide value to its customers. “We are delighted to partner with Deluxe Trucks & Buses as is a reflection of our commitment to supporting key customers to derive value from their long-standing loyalty,” She said.
On his part, Deluxe Trucks & Buses E.A. Managing Director, Mr. Ameet Shroff said: “The partnership targets individuals, Small Medium Size companies, and large commercial businesses for flexible financing of up to 95% of the vehicle cost. Delivering uptime to customers is our key objective and we will ensure that our customers are continuously served with complete satisfaction.”
Deluxe Trucks & Buses E.A. Ltd, which is a wholly owned subsidiary of Simba Corp, was appointed the sole authorized distributor of the full range of Ashok Leyland brand of trucks and buses. The vehicles are locally assembled at Associated Vehicle Assemblers (AVA) which is also owned by Simba Corp. The firm recently opened a modern sales, service equipment center at Xylon Complex, located along ICD Road, Off Mombasa Road, Nairobi,, in a move that will ensure that customers get access to specialized services post-purchase, given the rising demand for vehicles used by SMEs and MSMEs.