28 Mar 19
News

RCI launches CDI offering to push Brazil auto sales

International automobile finance company RCI Bank and Services is now offering bank certificates of deposits (CDI) for customers in Brazil, much like what it currently offers in France, Germany, Austria, and the United Kingdom, the Renault group said in a release.
 
With a one-day CDI (interbank certificate of deposit rate) of 102%, the CDIs proposed by the Brazil unit (Banco RCI Brasil) are among the most competitive in the market. The minimum deposit is R$1,000 (US$260), and the certificates are available at any time with no fees, notice period, or other restrictions.
 
The deposits to be collected will help finance car loans approved for customers and dealerships of the Alliance brands, and in turn support their growth in the Brazilian market. Accounts can be opened digitally in just a few minutes and, according to the release, this is the first service of its kind being offered in the country. 
 
The Alliance brands include: Renault, Nissan, Mitsubishi, Renault Samsung Motors, Infiniti, Datsun, Dacia, Alpine, and Lada.
Authored by: Daniel Bland