Business IdeasToyota Kirloskar, SBI tie up for vehicle finance
Car maker Toyota Kirloskar Motor today said it has entered into a memorandum of understanding with the country"s largest lender, State Bank of India (SBI), for vehicle finance.
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Under the agreement, SBI will be one of the preferred financiers for the entire range of vehicles marketed by Toyota Kirloskar Motor (TKM), the car maker said in a statement.
"The MoU aims at targeting high end customers who will be availing car loans from SBI above Rs 5 lakh onwards," it said.
SBI has come out with a special scheme "SBI Advantage Car Loan Scheme" for this segment of customers, the statement added.