Automobile manufacturer, Hyundai Motors India Ltd and private sector lender, ING Vysya Bank have entered into an agreement which would benefit both parties and at the same time benefit the customers too.

The two entities have signed a memorandum of understanding (MoU) wherein both the automobile company outlets and bank branches would car loan business for Hyundai Motor cars using the customer database of both.

The MoU was signed by Director Marketing and Sales HMIL Mr Arvind Saxena and Country Head ING Vysya Bank India Mr Uday Sareen, on behalf of their respective organisations.

''We are pleased to announce this partnership with ING Vysya Bank, which is one of the prominent banks in the private sector in India. With this association, we will be able to reach out to a wider consumer base with better and easier finance options,'' Mr Saxena said.

As per the deal, all branches of the bank will offer car loan options to customers buying Hyundai cars.