UBA PARTNERS SUZUKI, MAKES VEHICLE ACQUISITION EASY

Mar 23 2008

United Bank for Africa (UBA) Plc Africa’s global bank has entered into an exclusive partnership with sole distributors of Suzuki vehicles in Nigeria; C & I Motors Limited, to give eligible customers loans, to buy Suzuki cars. The loans which are provided under the bank’s Auto Loan scheme will enable beneficiaries by Suzuki vehicles of their choice and repay over a five year period at very attractive interest rates. The announcement comes in the heels of the official launch of Suzuki vehicles and the commissioning of the Ultra Modern Office Complex/show room of C & I Motors, taking place today in Lagos.

Stating that the scheme is part of efforts to ease the plight of Nigerians, who desire to own brand new Suzuki vehicles but cannot afford to make full cash payment, Head UBA Auto Loans, Mr. Segun Adejoro said prospects are only required to be in paid employment and operate a salary account with UBA.  

The bank’s partnership with C &I Motors Limited which recently secured the sole franchise for the sale of Suzuki vehicles in Nigeria from Suzuki Motors Corporation of Japan, he says, is predicated on the quality of the Suzuki vehicle brand and its reputation as one of the leading brands in the global automobile market.

As Nigeria’s largest financial services institution committed to the development of the economy, UBA, recently relaxed the repayment period for its Auto Loans. It was extended to sixty months (five years to reduce the pressure of repayment on customers from the initial repayment tenor of 48 months (four years).