Leading automobile manufacturer, Toyota Kirloskar Motor has signed an agreement with public sector lender, UCO Bank so as to provide efficient auto loan opportunities to its prospective customers.

A Memorandum of Understanding (MoU) has been signed between the two entities on September 15.

TKM said that with this MoU, UCO Bank would become one of the preferred auto loan providers to its customers.

"This tie-up will give us a platform from where different products of our bank can be marketed to the prospective buyers of Toyota cars throughout the country," UCO Bank Chairman and Managing Director Arun Kaul said.

"It will be considerable value addition for our customers. With the market looking up this is the right time for us to step up our efforts to reach out to our customers with better and easier finance options," TKM General Manager (Sales) Sailesh Shetty said.