Financing
Toyota-Indian Bank tie up for Auto Loans
Jul 16th
Toyota Kirloskar has signed a Memorandum of Understanding (MOU) with Indian Bank to extend auto retail finance to their prospective customers.
Indian Bank will be one of the preferred retails financiers for the entire range of vehicles sold by Toyota Kirloskar Motors. Both Indian Bank and Toyota dealers will promote the schemes to provide various finance options to its customers through all branches of Indian Bank.
Auto loans rates increased
Mar 5th
Auto loan rates are set to get expensive for new borrowers
ICICI Bank, India’s No. 2 lender, has raised auto loans by 25-50 basis points for different tenors and segments, effective from March 5. HDFC Bank hiked auto loan rate by up to 100 basis points.
Kotak Mahindra Bank has hiked interest rates on home loans by 50 bps while Kotak Mahindra Prime has raised auto loans rates by 50 bps from tomorrow.
Last 4 days to book your Tata Nano
Apr 21st
Only four days more to book your Tata Nano… The car that will change your world can be yours for as little as Rs. 2850…..
Attractive booking finance options avialbale, starting from:
For details call:
State Bank of India: 1800-112-211 or 080-2659 9990
Tata Motors Finance: 1800-209-6060
State Bank of Patiala: 1800-112-211
State Bank of Travancore: 1800-425-0018
Central Bank of India:1800-22-2368
State Bank of Mysore: 1800-425-2244 or 080-2330 0020
State Bank of Hyderabad: 1800-425-4055
State Bank of Bikaner and Jaipur: 022-2265 1445
Federal Bank: 1800-425-1199
State Bank of Indore:1800-233-6677
Indian Bank:1800-425-1400
Union Bank of India: 1800-2222-44
Uco Bank:1800-345-0123
ICICI Bank: 1800-22-4848
United Bank of India: 1800-3450-345
Canara Bank: 1800-425-0018
Corporation Bank:0824-2426416
Punjab National Bank: 1800-180-2222
Bank of Baroda:1800-22-4447
Oriental Bank of Commerce: 1800-180-1235
For corporate booking write to corporatesales@tatamotors.com
For terms and conditions please refer to the booking form. The rates mentioned are at the sole discretion of the financiers and their terms and conditions apply.
to know more log on to www.tatanano.com or call 020-6649 5678
Hyundai and Bank of India enter into MOU for car loans
Mar 28th
Hyundai Motor India Ltd (HMIL), the second largest car manufacturer and the largest passenger car exporter, in a bid to enhance financing options for its customers, signed a Memorandum of Understanding (MOU) with Bank of India, a major public sector bank today.
Under the MOU, Bank of India, a premier nationalized bank, will be financing prospective constituents to acquire Hyundai cars at an attractive rate of interest of 10.25% for 3 years and concessional processing charges (Rs.1,000/- flat ). The MOU, signed by Arvind Saxena, Sr VP, marketing & sales, Hyundai Motor India Ltd, and Nagesh Pydah, general manager, Bank of India, local head office, Chennai, will assist in giving a boost to auto sales at a time when the auto industry is facing a slowdown.
Bank of India, with a business mix in excess of Rs. 310,000 crore is a front runner in terms of profitability, growth and sustainability having won four awards recently in the banking space (K P M G, Business World, NDTV Profit, Dun & Bradstreet), with over 2,978 branches including 26 overseas centers (of which 2,575 are under the C B S Platform).
This strategic alliance with HMIL will help both the partners to reach out to a wider market and make available auto loans for prospective car owners on user-friendly terms.
Speaking on the occasion, Arvind Saxena, Sr. Vice President, Marketing & Sales, HMIL, said, “We are glad to partner with Bank of India as with its competitive products and wide reach we see it as value addition for our customers.
Considering the slowdown in the auto industry, this association with Bank of India at this juncture is an effort to ensure that we are able to reach out with more finance options with rationalized interest rates for the benefit of our customers.”
This tie-up is extended to cover financing by all the branches of Bank of India in India. The two partners will utilize and leverage each other`s strengths to cross sell Hyundai vehicles and the bank`s car loans and other schemes.
After signing of the MOU, Nagesh Pydah, General Manager, Local Head Office, Southern Zones, Bank of India said, “This tie-up with HMIL offers a tremendous opportunity for both our respective organizations to proliferate our businesses and contribute widely to demand creation in a scenario which otherwise is witnessing a demand contraction.
For Bank of India in particular it would result in addition to the customer base providing an opportunity to cross sell to them the other products of the bank as well. We are very bullish in the outcome of today’s event.”
Source: Hyundai India
Hyundai ties up with Bank of Baroda for financing
Mar 25th
Hyundai Motor India, the country’s second largest car maker, announced its partnership with public sector lender Bank of Baroda to provide financing facility to its customers. The tie-up is extended to cover financing by all the branches of the bank in the country and the two partners will utilise and leverage on each other’s strengths to cross sell Hyundai vehicles and the bank’s car loans and schemes, Hyundai Motor India said in a statement.
“Considering the slowdown in the auto industry, this association with Bank of Baroda at this juncture is an attempt to ensure that we are able to reach out with more finance options with rationalised interest rates for the benefit of our customers,”Hyundai Motor India Senior vice-president (marketing and sales) Arvind Saxena said.
Bank of Baroda has over 2,900 branches and 1,179 ATMs across the country. Hyundai Motor also said the Tamil Chamber of Commerce has conferred the ‘EXIM Achievement Award’ for 2007-08 to it for its outstanding achievement in the export-import category.
The carmaker exports units to over 100 countries in European Union, Africa, Middle East, Latin America and South East Asia. It had crossed the half million mark for exports in March 2008.
Hyundai Motor India sells the Hyundai Santro, Hyundai i10, Hyundai i20, Hyundai Accent, Hyundai Verna, Hyundai Getz, Hyundai Sonata Transform and Hyundai Tucson models in India
Source: Business Standard
Ashok leyland ties with Corporation Bank & Bank of Baroda Edit
Mar 1st
Hinduja group flagship company Ashok Leyland on Friday signed a MoU with Corporation Bank and Bank of Baroda to provide retail financing for Ashok Leyland’s commercial vehicle customers.
This tie-up enables Ashok Leyland to leverage the extensive branch network and customer reach of Corporation Bank and Bank of Baroda to the mutual benefit of both the Organisations.
“In the current scenario, we expect Public Sector Banks to provide the most cost effective funding solutions to our customers” Ashok Leyland Chief Financial Officer K Sridharan said.
In handling the retail portfolio, Corporation Bank Deputy General Manager B N Shenoy said the Bank’s Retail Hubs situated in various Centres were fully geared to provide quicker decision support.
He said the Bank currently has an aggregate portfolio of Rs. 729 crore under vehicle financing.
Recognising the wide reach and financial strength of Public Sector Banks, Ashok Leyland has already entered into MoUs with State Bank of India, State Bank of Patiala, Jammu & Kashmir Bank.
Source: Economic Times
