Besides, private vehicle customers can opt for flexible tenures up to 7 years with interest rates starting from 8.8 % per annum. At present, commercial vehicle customers can opt for flexible tenures up to 5 years with competitive rates, it added.
"This collaboration signifies our dedication to providing exceptional customer experiences 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," Toyota Kirloskar Motor (TKM) Vice President, Sales-Service-Used Car Business, Sabari Manohar said.
Union Bank of India General Manager Arun Kumar said the MoU with TKM is 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 digitised loan procedures will enable customers aspiring to purchase a new Toyota vehicle with utmost ease and convenience," he added.
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