Comments
Karnataka Bank Ltd has signed a memorandum of understanding with Toyota Kirloskar Motor Pvt Ltd (TKM) to introduce financing options for its customers to purchase Toyota vehicles.
Also read: Karnataka Bank launches CASA campaign
Under this agreement, Karnataka Bank becomes one of the preferred financiers for the vehicles sold by TKM. A media statement said the customers can get loans through the digital platform of the bank with interest rate linked to External Benchmark Lending Rate (EBLR) for purchasing TKM vehicles for both private and commercial use. The tenure of the loan will be upto 84 months.
Quoting Mahabaleshwara MS, Managing Director and Chief Executive Officer of Karnataka Bank, it said the bank offers car loans through its extensive branch network with an indigenously developed end-to-end digital platform for existing as well as new customers. The platform is enabled with simplified and faster processing capabilities.
KBL Utsav campaign
He said the benefits of the ongoing special campaign ‘KBL Utsav’ of the bank are also offered to all customers who purchase TKM vehicles during the campaign period.
R Venkatakrishnan, Vice-President (Strategic Business Unit) of TKM, said, “With this collaboration, we have focused on designing innovative schemes to suit the customer needs while also providing ease of finance. Along with our partner, Karnataka Bank, we hope to build on our respective strengths to create the best solutions for our customers.”
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.