The vast outreach of IndusInd bank is hoped to benefit Toyota greatly
Toyota Kirloskar Motor has announced a partnership with IndusInd bank for availing vehicle loans to its customers. IndusInd will avail retail finance for Toyota customers pan India. These loans will be available for the entire Toyota portfolio in the country.
With IndusInd Bank as the official banking partner, the customers will get to enjoy favorable interest rates and tenures, on their loans. The finance schemes will apply to both private vehicles and commercial vehicles alike. The bank will also offer customized downpayment, tenure, and interest rates. IndusInd Bank has a strong presence in Tier 1,2 and 3 cities, and the same is hoped to benefit the partnership greatly.
Toyota seems to be restructuring its business model extensively. The carmaker had recently discontinued the Yaris sedan and is also known to replace it with the upcoming rebadged Ciaz, aka Belta. Apparently, the automotive giant is eyeing more volumes here. With the new finance partnership in place, sales are expected to witness remarkable hikes.