Equity Bank partners with Toyota Kenya to finance customersMay 24, 2019
NAIROBI, Kenya, May 24- Equity Bank and Toyota Kenya Limited customers can now access up to 95 per cent financing payable within 60 months on the single cab Hilux pickups.
This follows a partnership agreement signed between Equity Bank and Toyota Kenya that will see the two organizations finance businesses and individuals keen to expand but are often stagnant due to lack of enough capital.
Speaking at the launch ceremony, Equity Bank Kenya Managing Director, Polycarp Igathe said the Bank is excited to be partnering with Toyota, one of the biggest automobile companies globally, to provide the much-needed financing to businesses and individuals who often experience financial challenges when trying to reach their targets.
Polycarp added that the partnership will boost easy access to finance to all Kenyans as well.
“We share a common goal with Toyota which is to empower SMEs and those in the agribusiness value chain from farmers to processors. This partnership will go a long way to enable easier and more convenient access to finance. We are always looking for ways to add value and provide affordable and flexible financing solutions to our customers and Kenyans,” said Igathe.
Toyota Kenya Managing Director Arvinder Reel also added on the organization celebrating 50 years of Toyota Hillux that continues to gain traction in the Kenyan market.
“The financing partnership with Equity Bank marks a special moment for us as we celebrate 50 years of Toyota Hilux, a vehicle that has over the years been known as one with an untouched legacy and unrivaled toughness. It is in this spirit that we continue offering customers easier options to purchase top quality, durable and reliable vehicles,” he said.
Equity Bank is giving customers who qualify for the financing, a 90-day holiday before they begin repayments.
In addition, customers who purchase the Hilux single cab vehicle under the partnership terms also have an opportunity to choose between a 1-year free maintenance service from Toyota or 1-year comprehensive insurance from a reputable underwriter, as part of the deal.
The Bank has allowed customers to repay the loan through any of the Bank’s alternative channels such as EazzyBanking App, Equitel and through any of the Equity agents or branches all over the country.
The Hilux single cabin pick-up is an all-terrain vehicle with the largest load capacity in the pick-up segment.
It is efficient in terms of fuel consumption with enhanced safety features making it suitable for both private and commercial use.