- The finance options will be available to customers, including those covered under priority sector schemes

- The tie-up is aimed at strengthening TKM’s focus on Tier-II and Tier-III towns through A and B segment cars

Toyota Kirloskar Motor (TKM) has signed a Memorandum of Understanding (M-o-U) with Karnataka Bank to enable finance options for customers across a vast number of cities and towns in India. Last month, the company tied up with IndusInd Bank, details of which are available here.

Following the tie-up, Karnataka Bank will be one of the preferred financiers for the entire range of vehicles sold by TKM. The finance options will be available to customers, including those covered under priority sector schemes, for purchasing Toyota vehicles for both private as well as commercial use.

Commenting on the occasion, R Venkatakrishnan, Vice President (VP), Strategic Business Unit, TKM said, “TKM always strives to enhance & aid customer convenience by introducing timely and relevant schemes for easy finance options. This tie-up is one such endeavour, enabled to establish new-age banking and finance solutions for a hassle-free and seamless buying experience for our customers. Following our successful foray into the B-segment with products such as Glanza and Urban Cruiser, we are witnessing strong demand from smaller cities and towns in addition to the metros. To meet the growing demand and improve the sales experience of our customers in both Metros as well as smaller markets, we are looking to further expand the reach of Toyota products across the country with a sharp focus on rural markets. With this collaboration, we have focused on designing innovative schemes to suit the customer's 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”.