Toyota Kirloskar ties up with IndusInd Bank for vehicle finance

Toyota Kirloskar Motor (TKM) on Thursday said it has tied up with IndusInd Bank to enable retail finance for its customers across the country.

With this tie-up, IndusInd Bank becomes one of the preferred financiers for the complete range of vehicles sold by TKM in India, the automaker said in a statement.

The finance facility at competitive interest rates will be available to customers, including those covered under priority sector schemes, for purchasing Toyota vehicles for both private and commercial use, it added.

As a preferred financer, IndusInd Bank will work closely with the automaker and its dealer partners in locations where it has operations to provide financing packages with customised options for the down payment, tenure, and rate of interest.

TKM Associate General Manager (Sales and Strategic Marketing) V Wiseline Sigamani said, "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."

He added that to meet the growing demand and improve the sales experience of customers in both metros as well as smaller markets, the company is looking to further expand the reach of Toyota products across the country with a sharp focus on the rural market.

Given IndusInd Bank's wide network, the company hopes to build on its respective strengths to create the best solutions for customers, Sigamani said.

IndusInd Bank Head (Consumer Finance Division) V Parthasarathy said, "With this partnership, we aim to reach new customers in Tier-I, II and III cities and towns with our huge network of over 2,000 branches across the country."

Parthasarathy added that at the same time, the collaboration will bring about a quick and seamless buying experience for the existing customers who are planning to own a Toyota vehicle.