Equity Bank Kenya and Toyota Kenya Limited have partnered to provide customers with 95% financing payable for the purchase of single cab Hilux pickups. The loan will be payable within 60 months.
Speaking at the launch ceremony, Equity Bank Kenya Managing Director, Polycarp Igathe indicated that 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 may wish to expand their businesses but face financial constraints.
“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.
On his part, Toyota Kenya MD Mr. Arvinder Reel said “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 unrivalled toughness. It is in this spirit that we continue offering customers easier options to purchase top quality, durable and reliable vehicles while ensuring they love the Toyota Kenya experience.”
Equity Bank will give 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 will 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.