CITY Savings Bank Inc. (CitySavings) has revved up its motorcycle loan offerings with the introduction of options to suit clients’ needs and financial capabilities through its Motor Mo’to program.
The bank has partnered with four major transport network vehicle services (TNVS) and logistics companies Lalamove, Grab, Quad X and Foodpanda to enable riders to get great motorcycle deals and flexible payment options.
It is also offering zero interest rates for pre-owned units under its Repo Line.
Another initiative is Telco Credit Scoring, which helps increase operational efficiency and minimize risks by providing credit scores using clients’ telco data to assess their payment capability and potential to default.
“The goal really is to make it simpler for our clients to drive home their first — maybe even their second or third — motorcycle. Especially with the pandemic, the demand and usage of motorcycles have grown drastically, so we want CitySavings to be top of mind when customers want to get their own,” said Feliciano Angue, executive vice president and Motorcycle Loans Business head.
Ruelito Aquino, vice president and Institutional Sales head for Motorcycle Loans Business, said these partnerships aim to help riders by making it simple to get motorcycles that would help them in growing their own businesses.
For Lalamove alone, the partnership potentially benefits 35,000 riders in Luzon and Cebu.
“For our riders, upgrading their motorcycle is meaningful for different reasons. It’s an opportunity that enables them to be more productive in their job, and opens up many more opportunities for growing their own business,” Bea Mantecon, rider operations manager of Quad X, said.
Jao Manahan, communications manager of Foodpanda, said CitySavings’ motorcycle loan program has helped their riders in more ways than one.
CitySavings has more than 100 branches nationwide. Interested clients can also apply through the “loan rangers,” the bank’s website and Facebook Messenger chatbot Talk To Maria.
Payment channels have also been expanded to include Pera Hub, M Lhuillier and Bayad Center. (PR)