Karur Vysya Bank has entered into an agreement with SUV (Sport Utility Vehicle) manufacturer Mahindra & Mahindra Ltd (M&M) for financing the vehicles from M&M stable. The tie-up is expected to enable both — M&M and KVB — to leverage on the inherent strength of each of their network of over 250 dealerships and 450 plus branches respectively.
The bank's Chief Executive, Mr K. Venkataraman, said that KVB would offer attractive package for purchasers of M&M vehicles by providing loans at a comparatively low EMI (equated monthly instalment). He however did not specify the rate. M&M, according to its Senior General Manager (Sales South), Mr Atul Sinha intends to conduct dealer-branch manager meets in this part of the country to create awareness among its dealers about the tie-up.