Karnataka Bank Ltd has signed a memorandum of understanding with Toyota Kirloskar Motor Pvt Ltd (TKM) to introduce financing options for customers to purchase Toyota vehicles.
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Under this agreement, Karnataka Bank will be one of the preferred financial institutions for vehicles sold by TKM. According to a media statement, customers will be able to obtain loans through the bank’s digital platform at interest rates linked to the External Benchmark Loan Interest Rate (EBLR) for purchasing TKM vehicles, both private and commercial. The loan period can be up to 84 months.
Citing Mahabaleshwara MS, Managing Director and Chief Executive Officer of Karnataka Bank, the bank offers car loans through an extensive branch network with an end-to-end digital platform developed independently for existing and new customers. Said that it is offering. The platform is enabled with simplified, faster processing capabilities.
He said the benefits of the bank’s ongoing special campaign “KBL Utsav” will also be offered to all customers who purchase TKM vehicles during the campaign period.
R Venkatakrishnan, Vice President of TKM (Strategic Business Unit), said: Together with our partner Karnataka Bank, we would like to leverage each of our strengths to create the best solution for our customers. ”
Karnataka Bank signs car loan agreement with Toyota
https://www.thehindubusinessline.com/money-and-banking/karnataka-bank-signs-pact-with-toyota-for-vehicle-financing/article37878535.ece Karnataka Bank signs car loan agreement with Toyota