Toyota Kirloskar Motor (TKM) has teamed up with Union Bank of India to launch a groundbreaking financing initiative. This new partnership promises up to 90% financing on the on-road price of Toyota vehicles for private use, eliminating any foreclosure or part-payment charges.
This exciting collaboration rolls out two innovative schemes: the Union Vehicle Scheme, offering flexible tenures up to 84 months with interest rates starting at 8.80% per annum, and the Union Parivahan Scheme for commercial vehicles, with terms extending up to 60 months. Union Bank’s extensive network ensures that these options are accessible to customers across the country.
This partnership is expected to create a significant buzz, offering residents enhanced financing solutions for Toyota’s range of vehicles. For quality vehicles expands, this initiative will provide much-needed financial flexibility, potentially boosting Toyota’s presence in the region. Mr. Sabari Manohar, Vice President of Sales-Service-Used Car Business at TKM, emphasized the initiative’s goal of simplifying vehicle financing and enhancing customer satisfaction. Union Bank’s General Manager, Mr. Arun Kumar, stressed the bank’s commitment to easing the auto finance process, ensuring greater convenience and accessibility for customers.