Standard Bank Namibia has launched Fleet Saver, a financing facility designed to improve efficiency for businesses in the fleet and tourism industries.
Cicelia Hagen-Cloete, Head of Vehicle and Asset Finance, said the product addresses challenges faced by companies managing large vehicle fleets.
“The offering is basically to provide more efficiency to tourism companies which finance their fleets through us. Some of the benefits include that it’s a system-operated facility where the client can upload all of their vehicles, manage the uploads and the defleeting of these vehicles on the system,” she said.
Fleet Saver replaces individual financing agreements with a single two-year contract covering the entire fleet, offering flexible repayment options.
“We can offer one to two percent monthly curtailments, which the client can settle on their capital alone. There is also a month-end interest report that the client can get to know what interest they need to pay on a month-end basis,” Hagen-Cloete explained.
She added that clients have direct access to manage settlements, payments and reports.
“They don’t have to contact the bank to get information. They can get information on the system. They’ve got access to it. They can do their own uploads, own settlements, own payments,” she said.
Fleet Saver runs on a 24-month term, extendable to 36 months depending on fleet size, and can accommodate between 10 and over 600 vehicles.
