Societe Generale Ghana launches Auto Loan facility

Accra, April 25, GNA – Societe Generale Ghana has launched yet another innovative product, the ‘Happy Auto Loan’, to provide credit financing of up to 80 per cent of the value of any vehicles of customers choice, be it new or used.

The ‘Happy Auto Loan’ facility, adds up to the chain of products introduced by the bank with the aim of creating a one-stop-financial-retail shop for the comfort of customers.

The launch of Societe Generale’s services, including the Visa Gold Card, Sound Drive motor insurance and Sound Cash are all efforts to provide quality and easily accessible banking services for customers.

Mrs Nathalie Douellou, the Head of Product Development and Channels Distribution, at the launch in Accra, said the loan facility is expected to cover the purchases of saloon cars, SUVs and pickups with the maximum age of the car not exceeding five years and maximum mileage not exceeding 80,000 Kilometres.

She explained that the vehicles purchased were also to be registered in the joint names of the bank and the customer.

Customers have the flexibility of repaying their credit over a maximum period of five years for vehicles less than two years old, but for vehicles older that two years, the maximum repayment period would be four years.

Mrs Douellou said due to the fact that the vehicle would be used as a security, borrowers would enjoy rates of up to 2.5 per cent below the usual interest rate at the bank and an interest rate as low as 27.5 per cent only for the time being.

Mr Kwaku Tweneboa-Kodua, the Head of Retail, said the one-stop-financial-retail shop would ensure the convenience of customers being able to buy their dream cars with the Happy Auto Loan, and also insure them with the ‘Sound Drive facility’, a motor insurance facility recently launched by the bank in collaboration with Allianz Insurance Limited.

He said customers would even feel happier knowing that all cars purchased would be from the bank’s registered partner vendors, who sell both new and old cars, which would also be checked and proven to be of good quality and from legitimate sources.

The Happy Auto Loan facility, he said, is easily assessable, as it could be obtained from all of the bank’s 39-network branches of the bank across the country.

‘ Customers can be sure that the process for acquiring this loan will be easy and straightforward as they would be assisted by friendly and well-trained in-branch staff, as well as Contact Centre agents.

Mr Francios Marchal said ‘it was a fact that banking was meant to cut across the needs of all stakeholders of the industry, hence the introduction of this product to meet the needs of all customers whose needs go beyond what was offered within day-to-day retail banking.’

He said innovation in creating products was key and the bank believes in tailor-made products that transcends what was offered by their competitors to show their understanding of the needs of individual customers.


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