New Delhi: Toyota Kirloskar Motor (TKM) on Monday said it has partnered with Karnataka Bank to provide easy vehicle financing options for its customers across India.
The company has signed a memorandum of understanding (MoU) with Karnataka Bank, following which the bank will be one of the preferred financiers for the entire range of vehicles sold by TKM, it said.
The finance options at competitive interest rates will be available to customers, including those covered under priority sector schemes, for purchasing Toyota vehicles for private and commercial use, TKM said in a statement.
R Venkatakrishnan, vice president (VP), strategic business unit, TKM , said, “To meet the growing demand and improve the sales experience of our customers in both the metros and the smaller markets, we are looking to expand the reach of Toyota products across the country with focus on rural markets,”.
He said, “We have designed innovative schemes to suit the customer needs and to provide ease of finance. Along with our partner, Karnataka Bank, we hope to build on our respective strengths to create the best solutions for our customers”.
Mahabaleshwara M S, managing director and CEO, Karnataka Bank, said this partnership will offer a quick and seamless experience of our digital car loan product to the customers, who are desiring to own products from TKM.
“Karnataka Bank offers car loans through our extensive branch network with an indigenously developed end to end digital platform for the existing as well as the new customers, enabled with simplified and faster processing capabilities,” he said.