Bank of Baroda,Simba Corp expands Vehicle and Asset Financing

• Bank of Baroda Kenya Partners with Simba Corporation to Expand Vehicle and Asset Financing Solutions;

 Bank of Baroda (Kenya) Limited has entered into a Memorandum of Understanding (MOU) with Simba Corporation Limited to expand access to vehicle financing and asset finance solutions for customers purchasing eligible new vehicles from Simba Corporation and its authorised dealerships.

The MOU signing ceremony took place at Simba Corporation Headquarters along Mombasa Road, Nairobi, bringing together senior representatives from both organisations.

Those present included Executive Chairman,Simba Corporation, Mr. Adil Popat; Simba Corp Group CEO, Mr. Dinesh Kotecha; Managing Director,Bank of Baroda (Kenya) Limited, Mr. Astitva Bhardwaj; Deputy Managing Director,Bank of Baroda (Kenya) Limited, Mr. Aman Kumar, together with other senior officials from both organisations.

The partnership strengthens Bank of Baroda Kenya’s vehicle financing and asset financing offering,providing customers with financing solutions for the acquisition of vehicles for personal, business and commercial use.

Vehicle Financing Solutions from Bank of Baroda Kenya

Under the MOU, customers purchasing eligible vehicles from Simba Corporation and its authorised dealerships can access financing of up to 95% of the total vehicle invoice value, inclusive of VAT, excluding additional or optional accessories.

For commercial vehicles, financing may be available for a maximum tenure of 84 months, while consumer vehicles may be financed for up to 60 months, depending on the vehicle variant.

The arrangement also offers several customer-friendly features, including zero processing fees, zero commitment fees, zero prepayment charges and zero renewal fees. A moratorium of up to six months may also be considered on a case-by-case basis.

These features complement Bank of Baroda Kenya’s existing focus on providing convenient and flexible financing solutions.

Simba Corporation Vehicle Brands

Simba Corporation is an established Kenyan business group with a strong presence in the automotive sector.Its portfolio includes internationally recognised brands such as Mitsubishi,FUSO,Ashok Leyland,Mahindra Commercial Vehicles, Mahindra Tractors,SAME, MG and Proton, covering passenger vehicles, commercial vehicles and agricultural machinery.

Through the partnership, customers can explore vehicle financing options while accessing vehicles from a diverse range of automotive brands represented by Simba Corporation and its authorised dealerships.

Supporting Customer and Business Growth

The partnership forms part of Bank of Baroda Kenya’s continued focus on providing financing solutions that support customer acquisition, mobility and business growth.

For individuals, vehicle financing can help make vehicle ownership more accessible, while businesses and SMEs can explore financing solutions to support their transportation and operational requirements.

The partnership also strengthens the Bank’s asset finance proposition and supports its broader objective of building long-term relationships with retail, SME and business customers.

Explore Vehicle Financing with Bank of Baroda Kenya;

Customers planning to purchase a new vehicle from Simba Corporation or its authorised dealerships are encouraged to visit their nearest Bank of Baroda Kenya branch to learn more about the available vehicle financing and asset financing options.

Whether you are looking to finance a personal vehicle, commercial vehicle or a vehicle for your business, Bank of Baroda Kenya is here to support your growth with convenient financing solutions.

Visit your nearest Bank of Baroda Kenya branch and explore your vehicle financing options.

Views: 9