UCB, BYD Bangladesh partner to ease vehicle financing

United Commercial Bank PLC (UCB) and BYD Bangladesh have signed a memorandum of understanding (MoU) to make vehicle financing easier and faster for customers.

Under the partnership, customers buying BYD vehicles will be able to access UCB Auto Loans at attractive interest rates and receive special financing benefits, according to a press release.

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Mohammad Shafiqur Rahman, deputy managing director and head of retail business division of UCB, and Amid Sakif Khan, managing director of BYD Bangladesh, recently signed the MoU on behalf of their respective organisations at BYD Bangladesh’s corporate head office.

Other senior officials from both organisations also attended the signing ceremony.

UCB Auto Loan customers will receive special offers and preferential facilities on selected BYD vehicles. The partnership will also enable faster loan processing and disbursement for eligible customers. Customers will also have the opportunity to apply for UCB credit cards and access other retail banking products and services.

BYD Bangladesh currently has eight branches in Dhaka, Chattogram and Bogura. It plans to open four more branches soon to expand its presence and make its services more accessible.

The partnership is expected to strengthen cooperation between the banking and automobile sectors while making vehicle financing more convenient for customers.