People’s Bank has partnered with Toyota Lanka (Private) Limited to launch an exclusive Auto Loan Facility, providing Sri Lankans with an enhanced opportunity to realize their dream of vehicle ownership.
The Memorandum of Understanding (MoU) for this partnership was signed recently at Toyota Plaza, Wattala. The event was attended by Clive Fonseka, Chief Executive Officer/General Manager of People’s Bank; Wickrama Narayana, Deputy General Manager (SME, Development & Micro Finance); Aruni Liyanagunawardana, Deputy General Manager – Retail Banking and Overseas Customer Services, along with other officials. Representing Toyota Lanka were Naotaka Takeda, Head/Project Manager (Value Chain & Mobility Solutions); Mathisha Samaranayake, Chief Operating Officer; Gayan Karunarathne, Chief Financial Officer; Demetrious Perera, Chief Human Resource Officer; Ravi Opatha, General Manager (Sales); Vipul Bandara, General Manager (Auto Value Enhancement); and Suren De Silva, Deputy Manager (Core Marketing Division).
This initiative introduces a dedicated loan facility for the purchase of brand-new vehicles, representing a significant step forward in both retail banking and automobile financing.
For many Sri Lankans, buying a vehicle is a lifelong aspiration. People’s Bank Auto Loan offers a customer-focused financing solution that extends beyond conventional facilities, providing unmatched flexibility and long-term value. With a range of repayment options available, customers can benefit from a monthly installment as low as Rs. 1,499 per Rs. 100,000 for a five-year tenure, with up to 30% capital deferment. After five years, the deferred amount can be either settled in full or converted into a new loan, providing greater financial flexibility.
The People’s Auto Loan provides greater value than other traditional financing methods, offering highly competitive interest rates, no early settlement fees, and exclusive discounts on Letter of Credit (LC) openings for vehicle imports. Moreover, this facility enables customers to gain full ownership while enjoying a seamless and affordable path to owning either a brand-new or a pre-owned vehicle.
Toyota Lanka, the sole authorised distributor for Toyota vehicles in Sri Lanka, is renowned for its quality, safety, and innovation. Through this collaboration, customers benefit from the combined credibility of two trusted brands—People’s Bank’s financial expertise and Toyota’s global reputation for excellence.
Together, the two organizations are set to transform auto financing in Sri Lanka, making the aspiration of driving a brand-new Toyota a reality for many.
