MINERVA BC NEWMAN
CEBU CITY – City Savings Bank, Inc. (CitySavings) offers easy access to motorcycle ownership to the growing Filipino middle class that sees the motorcycle as efficient and cost-effective for both personal and business needs.
According to Motorcyclesdata.com, the demand
for motorcycles has steadily increased, as this vehicle is able to address the
logistical limitations of movement and transportation. The pandemic has limited
the movement of Filipinos and they must find ways to make sure that their
day-to-day needs are fulfilled.
With easy access to credit, sales potential in the country is promising, says CitySavings and it capitalized on this through its Motorcycle Loans business with fast approvals, exclusive offers, and low-down payments under its “Motor Mo’To program.”
“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,” CitySavings Executive Vice President - Motorcycle Loans Business Head Ret. Adm. Feliciano Angue said.
Angue said that another key growth area being focused on by Motor Mo’to is having several institutional partners that rely heavily on motorcycles for their operations.
Since 2019, CitySavings has been a partner of four major Transport Network Vehicle Services (TNVS) and other logistics companies - Lalamove, Grab, Quad X, and Foodpanda. These partnerships help to enable riders to get great motorcycle deals and flexible payment options, thus expanding their income potential, he added.
Rider Operations Manager of Quad X Bea Mantecon mentioned that for its 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 many more opportunities for growing their own business.
Jao Manahan, Communications Manager of Foodpanda shared that assisting Foodpanda riders to provide the best service possible, CitySavings' Motorcycle Loan has helped its riders' experience in more ways than one.
“As they continuously offer affordable and exclusive deals for our riders, I am very excited about what's in store for this partnership,” Manahan said.
According to Ruelito Aquino, Vice President - Institutional Sales Head - Motorcycle Loans Business of CitySavings that these partnerships are not just to further strengthen each of these bottom lines. These help the 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 where their operations are currently in place, Aquino bared.
The Motorcycle Business Group does not hit the brakes there. Repossessed motorcycle units have also shown huge sales potentials, given that resale values are more affordable and more attractive to our customers.
CitySavings is accelerating the “Repo” Line
with offers as low as 0% interest rates for pre-owned units. Another initiative
lined up to further improve the services for the business is Telco Credit
Scoring.
The Motorcycle Group has made owning a motorcycle much simpler for those who want or need one. It has also been made very accessible, not just through affordable deals, but also through the various channels where our customers can inquire and apply for a Motor Mo‘to loan.
CitySavings added that aside from the more than 100 CitySavings branches nationwide, interested clients can also apply through the Loan Rangers, through the CitySavings website, and through the most recent addition, the Facebook Messenger Chatbot, Talk To Maria.
Payment channels have also been expanded to complete the simpler customer experience. Aside from CitySavings and UnionBank branches, Motor Mo‘to clients may also pay their monthly amortizations through PERA HUB, M Lhuillier, and Bayad Center. (Photos: CitySavings)
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