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Toyota in India has been making steady progress of late. In July, the company reopened bookings for the Fortuner and launched the Corolla Altis Diesel in the country. Now Toyota Kirloskar Motor has announced that the company has signed a Memorandum of Understanding (MoU) with IndusInd Bank (IBL) to extend a hand, offering car finance to prospective customers.

Commenting on the tie-up, Mr. Sailesh Shetty, General Manager Sales, Toyota Kirloskar Motor said, “In line with its growth, Toyota will continue with its aggressive expansion plan in India by adding to its existing network of dealerships across the country and tying up with banks to make car loans more accessible to our customers. We aim to provide end-to-end financial solutions to our customers through these tie ups.”

Mr. S V Parthasarathy, EVP-CFD, IndusInd Bank, added, “Car Finance is the key focus area of the bank during the current year and this tie-up would be mutually beneficial in furthering this objective. We hope that, IndusInd’s 2 Million customer base and reach of over 700 locations covering tier 2 cities and semi urban areas will prove to be a major asset for the ever expanding business of Toyota Kirloskar Motors.”

TKM had signed an MoU with SBI in January this year, and this deal with IndusInd Bank will ensure that the bank will offer financiers for TKM’s entire range of vehicles sold in the country. Both IBL and Toyota dealers will support several finance options which customers can avail of, through all branches and business outlets of IBL.