{"id":15245,"date":"2020-10-01T20:01:52","date_gmt":"2020-10-01T20:01:52","guid":{"rendered":"https:\/\/www.africa-press.com\/kenya\/?p=15245"},"modified":"2020-10-01T20:01:52","modified_gmt":"2020-10-01T20:01:52","slug":"co-op-bank-launches-partnership-to-finance-toyota-kenya-vehicles-up-to-95","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/economy\/co-op-bank-launches-partnership-to-finance-toyota-kenya-vehicles-up-to-95","title":{"rendered":"Co-op Bank launches partnership to finance Toyota Kenya vehicles up to 95%"},"content":{"rendered":"

Author:\u00a0JUDAH BEN-HUR\u00a0<\/strong>
\nAfricaPress-Kenya:<\/strong> The new partnership between Co-op Bank and Toyota Kenya will enable the bank’s customers to purchase commercial and personal vehicles under Toyota Kenya\u2019s portfolio with a down payment of as low as 5 per cent.<\/p>\n

The strategic scheme put in place to aid business and individuals recover from the ravages of the coronavirus pandemic will be able to finance up to 95 per cent of the total cost of the loan. Customers will also be able to enjoy a grace period of 60 days before they begin to pay back the loan.<\/p>\n

\u201cRepayment of the loan is for a long period of up to 60-months. Co-op Bank will also extend a Kshs. 500,000 working capital loan – without additional security – to the successful applicants of the Toyota Vehicles,\u201d read a statement from Co-op Bank.<\/p>\n

The new partnership also opens new doors for fleet customers under Coop Fleet Africa, the leasing arm of Co-operative Bank Group, to be able to acquire more units. This is an amplification of an existing deal that only covers the commercial segment with the financing of the Hiace van and Hilux pickups.
\nManaging Director Toyota Kenya, Arvinder Reel that the pandemic was an eye-opener and brought the need to support crucial sectors of the economy.<\/p>\n

\u201cOur partnership with Co-op Bank goes beyond just the sale of the vehicles. We are saying this is an improved partnership since customers will also receive professional training for their drivers under the Toyota Advanced Driving programme and the Yamaha Riding Academy, for those who purchase the Yamaha motorbikes,\u201d said Mr Reel.<\/p>\n

Co-op\u2019s Director of Corporate and Institutional Banking, Mrs Jacquelyne Waithaka said that the scheme is available for those customers who want direct acquisition of the vehicles, or for leasing.<\/p>\n

The bank has made the terms flexible to accommodate MSME\u2019s, Co-operatives, Corporate,
\nIndividuals and Farmers, to support them rebuild their businesses as the economy re-opens.<\/p>\n

The interest rate at the bank remains at 13 per cent.<\/p>\n","protected":false},"excerpt":{"rendered":"

Author:\u00a0JUDAH BEN-HUR\u00a0 AfricaPress-Kenya: The new partnership between Co-op Bank and Toyota Kenya will enable the bank’s customers to purchase commercial and personal vehicles under Toyota Kenya\u2019s portfolio with a down payment of as low as 5 per cent. The strategic scheme put in place to aid business and individuals recover from the ravages of the […]<\/p>\n","protected":false},"author":84,"featured_media":15246,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[5887,3689,1539,5890],"class_list":["post-15245","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-business","tag-co-op-bank","tag-covid-19","tag-toyota"],"yoast_head":"\nCo-op Bank launches partnership to finance Toyota Kenya vehicles up to 95% - kenya<\/title>\n<meta name=\"description\" content=\"The new partnership between Co-op Bank and Toyota Kenya will enable the bank's customers to purchase commercial and personal\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/economy\/co-op-bank-launches-partnership-to-finance-toyota-kenya-vehicles-up-to-95\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Co-op Bank launches partnership to finance Toyota Kenya vehicles up to 95%\" \/>\n<meta property=\"og:description\" content=\"The new partnership between Co-op Bank and Toyota Kenya will enable the bank's customers to purchase commercial and personal\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/economy\/co-op-bank-launches-partnership-to-finance-toyota-kenya-vehicles-up-to-95\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2020-10-01T20:01:52+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2020\/10\/coop_bank_launches_5f75ddf88d729.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"530\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/co-op-bank-launches-partnership-to-finance-toyota-kenya-vehicles-up-to-95#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/co-op-bank-launches-partnership-to-finance-toyota-kenya-vehicles-up-to-95\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Co-op Bank launches partnership to finance Toyota Kenya vehicles up to 95%\",\"datePublished\":\"2020-10-01T20:01:52+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/co-op-bank-launches-partnership-to-finance-toyota-kenya-vehicles-up-to-95\"},\"wordCount\":341,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/co-op-bank-launches-partnership-to-finance-toyota-kenya-vehicles-up-to-95#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2020\/10\/coop_bank_launches_5f75ddf88d729.jpg\",\"keywords\":[\"Business\",\"Co-op Bank\",\"COVID-19\",\"Toyota\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/economy\/co-op-bank-launches-partnership-to-finance-toyota-kenya-vehicles-up-to-95#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/economy\/co-op-bank-launches-partnership-to-finance-toyota-kenya-vehicles-up-to-95\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/economy\/co-op-bank-launches-partnership-to-finance-toyota-kenya-vehicles-up-to-95\",\"name\":\"Co-op Bank launches partnership to finance Toyota Kenya vehicles up to 95% - 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