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Toyota Kirloskar Motor Partners with IndusInd Bank

In Automobile
November 18, 2021

In accordance with its customer-first philosophy, Toyota Kirloskar Motor (TKM) today announced the signing of a Memorandum of Understanding (MoU) with the country’s leading new-age banking platform, IndusInd Bank, to enable retail finance for its customers across all the States and Union Territories of 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 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. As a preferred financer, IndusInd Bank will work closely with TKM and its dealer partners in locations where it has operations to provide attractive financing packages with customized options for the down payment, tenure, and rate of interest.

Sharing his views on the tie-up, SV Parthasarathy, Head – Consumer Finance Division, IndusInd Bank, said, “We are delighted to be collaborating with TKM, which is one of the leading car manufacturers in the country with a diverse product range. With this partnership, we aim to reach new customers in Tier I, II & III cities and towns with our huge network of over 2,000 branches across the country. At the same time, the collaboration will bring about a quick and seamless buying experience for our existing customers who are planning to own a Toyota.”

TA Rajagoppalan, Executive Vice President, IndusInd Bank, added, “This partnership with TKM allows our customers seamless access to easy and affordable finance solutions that are built keeping their needs and preferences in mind. It also marks the beginning of an exciting phase in the relationship between IndusInd Bank and TKM towards serving customers together.”

Talking about the MoU, V. Wiseline Sigamani, Associate General Manager (AGM), Sales & Strategic Marketing, TKM, 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. With the tie-up with IndusInd Bank, we are looking to further expand the reach of Toyota products across the country with a sharp focus on the rural market given their wide network. Together we hope to build on our respective strengths to create the best solutions for our customers.”

As a practice, TKM continually strives to amplify the customer experience throughout the life cycle with timely and pertinent schemes for easy finance, sale of old vehicles and service packages among others. The tie-up with IndusInd Bank will add to the array of finance options available to Toyota customers.