Stanbic Bank Kenya Head of Engineering, Catherine Muraga (First left), General Manager Mercedes Benz and Volkswagen - DT Dobie Kenya, Roy Kyalo(Far Right), Stanbic Bank Kenya Head of Vehicle and Asset Finance, Kimani Njagi (Far Left) and Business Development Director Mercedes Benz-DT Dobie Kenya, Dale Slee, (First Right) during the signing of the Memorandum of Understanding (MOU) between Stanbic Bank Kenya and DT Dobie Kenya.
Stanbic Bank Kenya Head of Engineering, Catherine Muraga (First left), General Manager Mercedes Benz and Volkswagen - DT Dobie Kenya, Roy Kyalo(Far Right), Stanbic Bank Kenya Head of Vehicle and Asset Finance, Kimani Njagi (Far Left) and Business Development Director Mercedes Benz-DT Dobie Kenya, Dale Slee, (First Right) during the signing of the Memorandum of Understanding (MOU) between Stanbic Bank Kenya and DT Dobie Kenya. [Photo/ Courtesy]

DT Dobie and Stanbic Bank Kenya have today signed a partnership agreement to offer Vehicle Asset Financing for the purchase of Mercedes Benz, Volkswagen and Hyundai personal and commercial vehicles. Under the agreement, Stanbic bank will provide up to 100 percent financing for personal vehicles and up to 90 percent for commercial vehicles with a 60 month-loan repayment period.

The partnership will also offer DT Dobie customers a discounted loan-processing fee at 1.5 percent at an interest rate of 13 percent per annum. Furthermore, clients will also enjoy a 45-day holiday period.

“The Volkswagen and Mercedes have proven popular with passenger vehicle buyers while Hyundai has been a favourite commercial light truck. Hyundai light trucks range from 3.5 to 9 tonnes. Key attributes of the vehicles are an extra-long chassis, superior fuel efficiency, powerful exhaust brake and hydraulic power steering among others. The trucks carry a three-year, or 100,000-kilometre warranty which clearly illustrates the confidence of the Hyundai Motor Company,’’ said Peter Wanjala, Finance Director at DT Dobie.

Speaking during the event, Head of Engineering at Stanbic Bank Kenya, Catherine Muraga said, “Through this partnership with DT Dobie, we can offer unique solutions to our clientele to cater for their motor-vehicle needs. We have, this far, been able to provide solutions to hundreds of individual customers and companies to acquire quality vehicles in an easy and convenient manner by making the process of loan application as painless as possible.”

Read: Stanbic Bank Restructures Loans Worth Ksh40 Billion In 2020

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