Private sector lender Karnataka Bank has joined hands with automobile manufacturer Bajaj Auto Ltd in a vehicle finance deal. As part of the deal, the lender would finance customers for purchasing vehicles manufactured by Bajaj.

Three wheeler passenger as well as cargo vehicles manufactured by Bajaj would get financed by Karnataka Bank when customers need to buy them.

The two entities have signed a memorandum of understanding (MoU) in this regard.

The bank said in a release that all financing would be offered easily under its scheme ‘KBL-MSE'. Also these loans would come under CGTMSE scheme of the Government and can be availed without collateral.

The MoU was signed by Mr B. Ashok Hegde, General Manager of Karnataka Bank Ltd, and Mr Ashwin Jaikant, General Manager, Bajaj Auto Ltd.