Hyundai ties up with Vijaya Bank for car finance

Hyundai ties up with Vijaya Bank for car finance

New Delhi: The country’s second largest car-maker, Hyundai Motor India, on Tuesday said it has tied up with public sector lender Vijaya Bank to offer retail financing facilities to its buyers.

“With this association, we will be able to reach out to a wider consumer base with better and easier finance options. Also, the competitive rates and easily accessible locations of the bank will surely benefit our customers," Hyundai Motor India Ltd director (Marketing and Sales) Arvind Saxena said.

Under the Memorandum of Understanding, both the partners will utilise and leverage each other’s strengths to cross sell Hyundai vehicles, along with the bank’s car loans and schemes.

Hyundai Motor India currently retails six car models across various segments, including the Santro, i10, i20, mid-size sedan Accent, premium sedan Verna Transform and luxury sedan Sonata Transform. The company has two manufacturing facilities at Sriperumbudur, near here.

HMIL currently has 296 dealer networks and 592 service points across India, while Vijaya Bank has 1,168 networked branches.