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Emirates NBD to expand PMV finance options in 2014

Emirates Money plans to expand its PMV product portfolio this year

Vipul Malhan says that the additional finance options will be available to customers later this year.
Vipul Malhan says that the additional finance options will be available to customers later this year.

Emirates Money has revealed that it is to expand its portfolio of PMV finance options before the end the year.

The company, which is a subsidiary of Emirates NBD, will introduce a variety of additional products to its customers in a bid to increase the range of commercial vehicles and equipment that can be financed.

“In the coming months, Emirates Money will expand the spectrum of products that it finances within the fleet and equipment sectors,” said Vipul Malhan, head of business vehicles and mortgages at Emirates NBD’s Consumer Finance Unit.

“Within the equipment sector today, for instance, the cranes that we can finance are limited according to tonnage. One avenue that we have been exploring, therefore, is the possibility of increasing that tonnage beyond the levels offered by our current suite of products,” he told CW.

In addition to expanding the range of PMV products that can be financed, Emirates Money is looking to improve the flexibility of its payment options.

“We are also interested in introducing specialised repayment schemes; variable equated monthly instalments (EMIs), for example. In this instance, a customer might start off with one EMI, and as his or her business improves, the EMI would step up in line with its growth. This is one example of the flexible payment options that we are exploring,” said Malhan.

“Emirates Money is currently in the process of finalising the products that will be introduced. These finance options will be available to our customers before the end of 2014,” he concluded.

 

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