Kolkata: Hyundai Motor India Ltd. (HMIL) signed a memorandum of understanding with UCO Bank on Wednesday to provide finance options for customers.
Arvind Saxena, director, marketing and sales, HMIL, said, “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.”
S.K. Goel, chairman and managing director, UCO Bank, said, ““This tie-up will give us a platform from where different products of our bank can be marketed to the prospective buyers of Hyundai Motor India products throughout the country. Thus, the bank’s retail portfolio as well as customer base can be increased”.
Under the agreement, both HMIL dealers and the bank branches will source Hyundai Motor India car loan business using their customer database. The tie-up is extended to cover financing options by all the branches of the bank in India. Both the partners will utilize and leverage each other’s strengths to cross sell Hyundai vehicles and the bank’s car loans and schemes.