Francois Marchal, deputy managing director of the bank
Societe Generale Ghana, one of the leading banks in the country, has outdoored a new product called ‘Happy Auto Loan’ to meet the financial needs of its customers.
The Happy Auto Loan facility that offers financing to customers to purchase vehicles of their choice.
It would offer customers a flexible repayment period of up to five years at very competitive rates.
Francois Marchal, Deputy Managing Director of the Bank, said the Happy Auto Loan is the latest addition to the bank’s range of ‘happy credit facilities.”
He stressed that the banking industry must meet the needs of all stakeholders.
“The range of products serves a great purpose for the bank’s strategy. To be the preferred bank, we believe that innovation is key and we know that we cannot simply be innovative for the sake of innovation.
“We believe we must have tailor-made products that transcend what is offered by our competitors and show that we understand the needs of each and every valued customer,” he said.
Mr Marchal said Societe Generale Ghana has spearheaded initiatives in the industry and offered competitive pricing, adding that it has partnered renowned service providers to ensure that customers get the best products and terms.
Explaining the rationale behind the introduction of the product, Nathalie Douellou, Head of Product Development and Channels Distribution, SG-Ghana said the product is designed to help customers finance the purchase of cars, SUVs and pickups with the maximum age of the car not exceeding five years and maximum mileage not exceeding 80,000KM.
“Loans taken would finance up to 80 percent of the value of the chosen car. The vehicle purchased will be used as security for acquiring the Happy Auto Loan. Vehicles purchased will be registered in the joint names of the bank and customer, he said.
Mr Douellou said customers have the flexibility of repaying their credit over a maximum period of five years for vehicles less than two years old and for vehicles older than two years, the maximum repayment period is four years.
“Due to the fact that the vehicle will be used as a security, borrowers will enjoy rates of up to 2.5% below the usual interest rate at Societe Generale Ghana. The bank’s customers will enjoy the Happy Auto Loan with an interest rate as low as 27.5% only,” he said.
By Cephas Larbi
Via: -Daily Guide
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