BoR and Hyundai motor India ltd enter a strategic tie-up for car loans
By Vaibhav Aggarwal
Sep 21, 2009
Print    Email    RSS   

Bank of Rajasthan, a leading Indian private sector bank with 463 branches across the nation, has signed up a memorandum of understanding (MoU) with Hyundai motor India ltd. ( HMIL), the Indian arm of Hyundai motor company, South Korea for car loans. The tie-up between the two companies is expected to be mutually beneficial.

Mr. K. K. Sharma, Executive Director, The Bank of Rajasthan Ltd., said "This MOU with the Hyundai Motor India Ltd. will facilitate additional retail finance options for passenger vehicles. Given the vast network of Bank's branches and HMIL dealerships, the MOU is of benefit to both, allowing the Bank to further strengthen its presence in retail assets segment and HMIL to tap rural and semi urban markets. The retail customer will be benefited by availability of financing facility at lower rates through Bank's branches".

The association between the two will make car loans available at a lower and attractive rate of 10.50% p.a for salaried professionals and 11 % for others. The loan limit will be 90% of the ex-showroom price and for a maximum tenure of 5 years.


(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

Manage your loans, avoid recovery agents
Bank loans that could glitter for you
New Vs. Used Car loan in India: Benefits...
Loans against Cars: A Quick Solution for...
Carnival of Indian Personal Finance Blogs #4

Hello I am looking to renew my car insurance and I...
my loan no

SBH bank extended its Car and gold loan campaign till 31st March, 2015. Feb 11, 2015
KVGB bank signed MOU with TATA Motors Feb 10, 2015
SBH bank extended its scheme offering concession to loan defaulters Feb 2, 2015
Karnataka Bank tied up with TVS motors to Assist Auto rickshaw buyers Jan 27, 2015
RBI extended the Directions issued to Amanath Co-operative Bank for a period of six months Jan 22, 2015
News Archive