Press Release: NCBA Bank, DT Dobie ink deal to support businesses
NCBA Bank Kenya PLC and DT Dobie have today signed a six months’ partnership to jointly promote sale of Mercedes Benz and Volkswagen brand of vehicles.
Under the partnership, NCBA will provide up to 95% financing with up to six years loan repayment period.
The partnership will also offer a discounted loan-processing fee at 2% for new customers and 1% for existing customers. The interest rate will be at 13% on reducing balance basis. NCBA Insurance Agency will provide an all-inclusive insurance rate of 3.25% for the Mercedes Benz School bus. Customers purchasing the Personal vehicles will enjoy an all-inclusive insurance rate of 3.5%.
According to Lennox Mugambi, Group Director, Asset Finance and Business Solutions, NCBA: “We are keen on supporting entrepreneurs to rebuild their businesses through asset financing. We are coming off a hard hitting 2020 that was characterized by the pandemic that affected many sectors. We want to encourage business owners to take advantage of this partnership to bolster their enterprises through asset financing.”
On his part Chris Ndala, Managing Director, DT Dobie noted, “The Volkswagen Polo Vivo and Tiguan Allspace have proven popular with passenger vehicle buyers. The Polo Vivo is compact and fuel efficient while the Tiguan Allspace has a powerful 2.0 litre engine and 4-Motion all- wheel drive with seating for up to seven and many standard tech and safety features.
“The Mercedes-Benz buses and trucks offer some of the best features in their segment with the buses featuring anti-lock brakes and dedicated bus chassis. The new Actros was also voted European truck of the year 2020,” he concluded.