Stanbic Bank’s Asset and Vehicle Financing offers flexible, accessible funding for vehicles, equipment, and business tools.
Are you looking to purchase a vehicle or maybe to invest in farming equipment and tools? These are major purchases and for many people, finances stand in their way. Some assistance from the right financial partners is one of the surest ways to go and in this article, we will talk about the Stanbic Bank Kenya’s Vehicle and Asset Finance facility.
Financing gives you the opportunity to access the vehicle or equipment when you need it, then lets you pay in manageable instalments. This works for people in business, employment, farming, and other ventures as a practical way to fund important purchases without overly your operational cash flow.
Through Stanbic Bank’s credit facilities, one can finance a broad range of items, which could include both new and used personal vehicles, construction machinery such as graders and excavators as well as commercial vehicles like vans and trucks. Even solar systems are included in the offering to help cut power costs for manufacturers and entrepreneurs. For a business to boost productivity and expand operations or for just reliable transport for an individual like me as a corporate woman, financing is always an option to look into.
The Stanbic Bank Vehicle Asset Finance comes with several practical features that make it a strong financial partner. For instance, the bank can facilitate upto 100% for new assets with flexible repayment periods of between 10 to 60 months to allow people to go with what works for their cash flow. Seasonal payment plans are also available for those in agribusiness.
The bank offers two financing structures to choose from – hire purchase for those who want full ownership of the assets from the start, and financial lease for those who prefer to lease with the option to purchase later. The application process for both is quite quick, and once approved, you can receive your funds within a few working days. This is a great step by Stanbic, since complexity and speed of delivery has often times discouraged people from pursuing asset financing.
Stanbic Bank has also taken away the worry of wrong deals by working with vetted and trusted dealers, as well as insurance providers. This means that one can get guidance when picking an asset to purchase, get competitive insurance rates, and also in sorting paperwork.
Vehicle and Asset Finance is open to customers in different fields like salaried individuals, farmers and cooperatives, consultants, engineers, and SMEs and corporates. To apply, the documentation you’ll need are, a proforma invoice from a recognised asset seller, your ID or business documents, proof of income or six months of bank statements, and a completed application form.
As mentioned earlier, Stanbic Bank has simplified the process and getting started is straightforward and there is guidance all the way. Choose your asset, get a quotation and submit your application along with the documents. Once approved, you’ll receive an offer letter from the bank and at this point you are well on your way to asset ownership. Complete the insurance and registration steps, and then you can collect your asset. Repayments begin after a 60-day grace period.
Stanbic Bank Kenya’s Vehicle and Asset Finance gives you the tools to move forward without tying up all your money. Whether you are buying your first car, expanding a fleet of commercial vehicles or upgrading existing assets, it’s a flexible and accessible way to fund it. Visit a Stanbic branch, talk to your relationship manager, or head to the bank’s website to get started.
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