- TKM and Bank of Baroda have signed MOUs to enable finance options

- The new service will facilitate customers to customised solutions

Toyota Kirloskar Motor (TKM) has signed Memorandums of Understanding (MoUs) with Bank of Baroda, to enable finance options for its customers and dealers. 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 on-road funding of 90 per cent, repayment period of 84 months, and no pre-payment or foreclosure charges. On the other hand, TKM dealers will receive digitised supply chain finance.

Commenting on the tie-up, 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. Under our customer-first approach, we will continue to innovate and offer more options to our customers and dealers reflecting the prevailing needs and emerging market demand. The MoU with Bank of Baroda comes at an opportune time for us, with our recent foray into the B-segment with new models like the all-new Toyota Urban Cruiser. We have also been witnessing good demand from both large and small cities and towns for both, the Urban Cruiser and the Glanza. Under the association, we will have access to their extensive network spread across the country including metros and Tier II and III cities and towns. They are an ideal partner for us and we are delighted and look forward to working closely with them to increase the reach of Toyota products to every nook and corner of India.”