Bank of Baroda offers finance for Toyota vehicles

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In pursuance of its customer-first approach, Toyota Kirloskar Motor today announced the signing of Memorandum of Understanding (MoU) with Bank of Baroda, to enable finance options for its customers and dealers - across India.

Following the tie-up, Bank of Baroda will be one of the preferred financiers for the entire range of vehicles sold by TKM.  The new service facilitates customers to avail customised solutions such as high on-road funding of 90 per cent, long repayment period of 84 months, no prepayment or foreclosure charges. On the other hand, TKM dealers will benefit from the best Digitized Supply Chain Finance with competitive interest rates.

Murali Ramaswami, Executive Director, Bank of Baroda, said, “We are delighted to be associated with one of the India’s valuable passenger car manufacturers. This alliance gives us an opportunity to penetrate deep into the relationship with automobile dealers and augmenting our Dealer Finance Portfolio through our branches spread across the country.”

Naveen Soni, Senior Vice President, Sales and Service, TKM, said, “The association is part of our efforts to enable new-age banking and finance solutions for a hassle-free and seamless experience for both our customers and dealers.”

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