Public sector Bank of Baroda has entered into an agreement between Toyota Kirloskar Motor (TKM). This agreement is meant to provide financing options to customers and dealers. The bank said in a statement that Bank of Baroda will be included in the preferential option providing financing during the sale of TKM’s entire vehicle range.
In this new service, customers will have the facility of financing up to 90 percent of the price of the vehicle. They will get a long payment period of 84 months. In this, prepayment and other charges will also not be applicable.
Customers will get better services
BoB Executive Director Vikramaditya Singh Khichy said that this will help the bank to expand into the retail vehicle loan market. This will provide better services to our customers and Toyota. This partnership will promote the MSME segment through the dealer finance program and the retail segment with auto loan finance. At the same time, dealers will also be given the opportunity to cross sell other bank products.
Tata Motors and HDFC Bank have also signed an agreement
Recently, Tata Motors has partnered with HDFC Bank for financing passenger trains. Under this partnership, the company has launched two schemes. One is the Gradual Step Up Scheme and the other is the TML Flexi Drive Scheme. Tata Motors plans to increase sales of its products in this festive season. This scheme will be till the end of November this year and it is applicable to all BS6 range cars and SUVs of the company as well as electric vehicles of the company. Read more about… Tata Motors offers, offer to buy a car offering at low EMI