• Sunday, March 03, 2024
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Sterling bank partners Dana Motors for Auto finance campaign


Sterling Bank Plc has partnered Dana Motors Limited, the sole distributor for the famous Kia brand of vehicles in Nigeria to launch the auto finance campaign that allows customers acquire KIA brands of vehicles with simplicity.

The auto finance campaign comes with attractive interest rate and loan tenure that allows convenient and flexible repayment. The campaign which commenced on July 29, 2015 will be in place for 90 days.

Speaking during the launch of the campaign, Gbenga Adegoke, Head Consumer Banking Sterling bank said the bank’s partnership with Dana Motors is not just to provide an auto finance product or proposition with value to the customers and the end users.

According to him, “This strategic auto campaign offers 20 percent minimum equity contribution, 48 months tenor, low interest rate, no fees, comprehensive insurance, equal monthly installment and a fixed monthly repayment throughout the duration of the facility.”

Adegoke also explained that interested customers can approach any Dana Motors outlet and pick up PFI for his or her choice car after which the Dana Motors sales rep provides customers with checklist, application form and amortization schedule (EMI).

He further explained that customers can then approach the nearest Sterling Bank branch and submit all required documents for the processing of his auto request, adding that the approval of the loan is done in 24hours.

“Dana Motors has always been known for providing quality services especially regarding the provision of Kia vehicles in the country. We have sat together with Dana motors and we have taken samples from experience and what the customers really needs from the auto loans and come up with value additions to the loan finance with the proposition we are giving,” he said.

Jimoh Olawale, Head Marketing, KIA Motors Nigeria said the vision of Kia aligns with that of Sterling bank which is to always make finance solutions affordable and accessible.

According to him, “Our partnership with Sterling bank is borne out of the fact that for over decades, Sterling Bank has been known for their customer focused programmes and its finance schemes and Kia Motors Nigeria is renowned for having customer focused promotion that will ease the requirements of owning new cars.”

He disclosed that the strategic auto campaign offers variety of benefits that includes prepayment of insurance premium, free car registration, free fuel tank at pick up of the vehicle, free services including parts and labor, free tanker and a five year warranty.

“We have also made the cars affordable for people to buy. It is an opportunity for people to own vehicles that are made in Nigeria, that are affordable and a preferred choice to them, that is why we are coming up with the four variant which includes Kia Rio, Cerato, Optima and Sportage,” he added.