Hyundai Ties Up with Corporation Bank for Auto Loans
Hyundai Motors India Limited signed MoU with Corporation bank and Bank of India to enhance financing options for its cars. Under the MoU, Bank of India, a premier nationalized bank, will be financing prospective buyers to acquire Hyundai cars at an attractive rate of interest of 10.25% for 3 years and concessional processing charges (Rs.1,000/- flat).
On the other hand it also signed MoU with Corporation Bank for financing the purchase of the cars manufactured by HMIL. The bank's general manager M P Kunju and HMIL senior vice president (Marketting and Sales) Arvind Saxena signed the MOU in Mangalore on March 25.
The tie-up provides for the additional facility of car loans for Hyundai customers, from Corporation Bank. The bank will be financing these cars under its 'Corp Mobi' scheme that offers attractive interest rates. All branches of the bank from across the country will be covered under this tie-up arrangement.
[Via: cartradeindia]