Hyundai Motor inks MoU with BoR for car loans

Hyundai Motor India Ltd (HMIL), the second largest car manufacturer and the largest passenger car exporter signed a Memorandum of Understanding (MOU) with Bank of Rajasthan, a leading private sector bank with a nationwide presence, for facilitating car loan financing for its range of vehicles.

With a stronghold in the state of Rajasthan, the bank boasts of a presence of 463 branches across India. Bank of Rajasthan is committed to a high level of customer satisfaction through efficient and personalized services.

This association with HMIL will help both the partners reach out to wider market base by making auto loans convenient and easy for prospective consumers.

Speaking on the occasion, Arvind Saxena, Sr. Vice President, Marketing and Sales, HMIL, said, "We are extremely pleased to partner with Bank of Rajasthan, as it will add to the financing options for our products and give our customers more choice and competitive financing options. It will also help us penetrate in to new areas and markets like Rajasthan where Bank of Rajasthan has a strong presence and we are confident that it will be a mutually beneficial partnership. "

"This MOU with the Hyundai Motor India Ltd. will facilitate additional retail finance options for passenger vehicles. Given the vast network of Bank's branches and HMIL dealerships, the MOU is of benefit to both, allowing the Bank to further strengthen its presence in retail assets segment and HMIL to tap rural and semi urban markets," said Mr. K. K. Sharma, Executive Director, The Bank of Rajasthan Ltd.