Mumbai, Auto major, Toyota Kirloskar Motor (TKM) on Monday said that it has signed of Memorandum of Understanding (MOU) with Karnataka Bank to enable easy finance options for customers across a vast number of cities and towns in India.
Following the tie-up, Karnataka Bank will be one of the preferred financiers for the entire range of vehicles sold by TKM. The finance options at competitive interest rates will be available to customers, including those covered under priority sector schemes, for purchasing Toyota vehicles for both private and commercial use.
Mahabaleshwara M S, Managing Director & CEO, Karnataka Bank, said, 'This is a collaborative effort of two great brands, Karnataka Bank and Toyota Kirloskar Motor, to provide the best in class service to our customers. We are delighted to be collaborating with TKM and this partnership will offer quick and seamless experience of our digital car loan product to the customers, who are desiring to own world class products from TKM.
Karnataka Bank offers car loans through our extensive branch network with an indigenously developed end to end digital platform for existing as well as new customers, enabled with simplified and faster processing capabilities. The partnership offers constant commitment towards providing best in class services to our customers as well as the potential buyers of Toyota Kirloskar Motor Vehicles.'
Commenting on the tie-up, Mr R Venkatakrishnan, Vice President (VP), Strategic Business Unit, TKM said, 'TKM always strives to enhance & aid customer convenience by introducing timely and relevant schemes for easy finance options. This tie-up is one such endeavour, enabled to establish new-age banking and finance solutions for a hassle-free and seamless buying experience for our customers. Following our successful foray into the B-segment with products such as Glanza and Urban Cruiser, we are witnessing strong demand from smaller cities and towns in addition to the metros. To meet the growing demand and improve the sales experience of our customers in both Metros as well as smaller markets, we are looking to further expand the reach of Toyota products across the country with a sharp focus on rural markets. With this collaboration, we have focused on designing innovative schemes to suit the customer needs while also providing 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'.