Mumbai-Toyota Kirloskar Motor Private Limited has entered into a new partnership with Union Bank of India to offer vehicle financing solutions. Through this alliance, customers can benefit from financing up to 90% of the on-road price of Toyota vehicles for private use, without incurring any charges for early repayment or partial payments.
The Vehicle Financing Scheme offers customers flexible terms of up to 84 months and attractive interest rates beginning at 8.80% per annum. For commercial vehicles, the Union Parivahan Scheme provides financing for commercial vehicles with flexible tenures up to 60 months at competitive rates. Union Bank's extensive network ensures that Toyota customers across the country can easily access these financing options.
Mr. Sabari Manohar, Vice President, Sales-Service-Used Car Business of Toyota Kirloskar Motor, said, "We are delighted to partner with Union Bank of India for enhancing vehicle financing options across the nation. This collaboration signifies our dedication to providing exceptional customer experience by simplifying and making vehicle financing more accessible. Our goal is to streamline financing options, offer seamless experiences, and provide timely support to make the vehicle purchase process enjoyable.
Mr. Arun Kumar, General Manager, Union Bank of India, said, “As one of the largest Public Sector Banks, we are delighted to partner with Toyota Kirloskar Motor Ltd. The MoU is surely a big step towards providing financing solutions to a vast array of customers, nationwide. Union Bank of India's robust presence across India complements this partnership and we are confident that our digitized loan procedures will enable customers aspiring to purchase a new Toyota vehicle with utmost ease and convenience. Our commitment is to streamline the auto finance process, thereby enriching the customer experience in terms of both product and service.”
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