Customers of I&M Bank Rwanda Plc as well as non-customers are set to benefit from a collateral-free vehicle financing deal, following a partnership with RwandaMotor, which has introduced Deepal, an intelligent electric and hydrogen vehicle brand, into Rwanda’s automotive market. The partnership aims to enhance the driving experience through reduced noise, smoother operation, and faster, cleaner acceleration, while supporting Rwanda’s green mobility ambitions, according to the parties. During a cocktail event held on April 1 at RwandaMotor showroom in Gahanga, attended by clients, partners, and key stakeholders, a new Deepal model was unveiled, showcasing the latest innovations in sustainable mobility. At the event, both parties announced that under the “Agiserera na I&M Bank” partnership, the bank will finance up to 100 per cent of the cost of electric vehicles and up to 80 per cent for non-electric vehicles purchased from RwandaMotor. Customers are required to pay only a 20 per cent upfront deposit, with the remaining balance repayable over a flexible period of five years. The purchased vehicle serves as the sole collateral. RwandaMotor is the official distributor of Changan Automobile – a Chinese vehicle manufacturer focusing on intelligent low-carbon mobility technology – in Rwanda. The Deepal brand, launched in 2022, focuses on intelligent new energy vehicles, including battery electric (BEV), range-extender (REEV), and hydrogen-powered technologies. Models unveiled According to Arsene Bruno Ntirandekura, Sales Manager at RwandaMotor, three innovative models were showcased: Deepal S07 – a fully electric SUV offering a driving range of approximately 485-620 km per charge (CLTC standard), advanced driver-assistance systems, and a premium digital cockpit. It is also available in a REEV version for extended range. Deepal S05 – a compact electric SUV designed for efficiency and modern lifestyles, delivering an estimated range of 450–510 km per charge. It also comes in a REEV version for added convenience. Deepal G318 REEV – a powerful range-extended electric vehicle capable of exceeding 1,000 km combined range, designed for both urban use and off-road performance. Flexible financing for all clients Christian Abijuru, Head of Business Banking at I&M Bank Rwanda Plc, said the financing model is designed to serve both salaried and non-salaried clients. “Our clients can purchase a family or business car through Agiserera na I&M Bank. Both loan terms and car prices are made more affordable through this partnership, and the financing is collateral-free,” he said. Non-customers can also apply by submitting bank statements from their financial institutions. Salaried applicants are required to provide job contracts, while business clients must present financial records to assess affordability. Xavier Berbers, Managing Director of RwandaMotor, underscored the company’s commitment to sustainability. “We're very happy to contribute to green mobility in Rwanda,” he said. “As an official dealer we are trained by the manufacturer for all the after-sales services and we provide manufacturing warranty. We are very happy about this partnership with I&M Bank. The end user can benefit by having a car loan with very competitive conditions,” he added. The event also allowed guests to interact with product specialists and explore the vehicles firsthand. Prices for the new models range between Rwf42 million and Rwf65 million. With over 60 years of experience in the automotive industry, RwandaMotor offers up to eight years of warranty on its new energy vehicles, complemented by comprehensive after-sales services to ensure long-term customer satisfaction.
