Bank will finance Royal Enfield

The Syndicate Bank has signed an MoU with Royal Enfield for providing finance for the latter's two-wheeler products here on Wednesday.

R Dhandabani, senior manager (sales), Royal Enfield said that the agreement aims at reaching out to the student sector and those employed in the highly rewarding IT sector.

The finance scheme will be spread upto five years at 9 per cent rate of interest and it will be charged on the reducing balance method. M/S U Subraya Nayak, the dealership firm in the district expects a 100 per cent jump in sales figures, he said.

B K Bhat, regional manager, Syndicate Bank, said the step was an extension of the SyndVahan policy of the bank.