• Login
No Result
View All Result
Gujarat Journal
  • Home
  • Gujarat News
  • India
    • National
    • State News
  • World
  • Business
  • Education
  • Entertainment
  • Lifestyle
    • Health & Fitness
    • Fashion & Beauty
    • Travel
    • Food
    • Photography
  • Tech
    • App News
  • Auto
  • Others
    • Sports
    • Agriculture
    • Science
    • Astrology
    • Finance/Money
    • Press Release
    • Religion
  • Home
  • Gujarat News
  • India
    • National
    • State News
  • World
  • Business
  • Education
  • Entertainment
  • Lifestyle
    • Health & Fitness
    • Fashion & Beauty
    • Travel
    • Food
    • Photography
  • Tech
    • App News
  • Auto
  • Others
    • Sports
    • Agriculture
    • Science
    • Astrology
    • Finance/Money
    • Press Release
    • Religion
No Result
View All Result
Gujarat Journal
No Result
View All Result
Home Auto

Bank of Baroda with Toyota Kirloskar Motor Introduces Finance Options for Customers & Dealers

by Gujarat Journal Team
October 21, 2020
in Auto, Finance/Money
Reading Time: 4 mins read
A A
0
Share on FacebookShare on Twitter

Opens easy finance schemes in smaller cities & towns across India

In pursuance of its customer-first approach, Toyota Kirloskar Motor (TKM) today announced the signing of Memorandums of Understanding (MoUs) with the country’s leading public sector bank, Bank of Baroda, to enable finance options for both – its customers and dealers – across a vast number of cities and towns in India.

Following the tie-up, Bank of Baroda will be one of the preferred financiers for the entire range of vehicles sold by TKM.  The new service facilitates customers to avail customised solutions such as high on-road funding of 90 per cent, long repayment period of 84 months, no prepayment or foreclosure charges. On the other hand, TKM dealers will benefit from the best Digitized Supply Chain Finance with competitive interest rates.

You May AlsoLike This

Here come the new megastars in the two wheeler industry- ELESCO V1 and V2 ex showroom price starting from Rs 69,999/-

Here come the new megastars in the two wheeler industry- ELESCO V1 and V2 ex showroom price starting from Rs 69,999/-

April 14, 2023
The Wealth Advisor is all set to open its first branch in Gujarat

The Wealth Advisor is all set to open its first branch in Gujarat

April 7, 2023

Hyundai Creta and Bajaj Pulsar emerges as the most popular car and bike: Droom India Automobile Ecommerce Report’ 2022

February 27, 2023

PayRup, India’s Fastest Payment app is launched

January 9, 2023

Sharing his thoughts on the alliance, Mr. Murali Ramaswami, Executive Director, Bank of Baroda, said, “We are delighted to be associated with one of the India’s valuable passenger car manufacturers. This alliance gives us an opportunity to penetrate deep into the relationship with automobile dealers and augmenting our Dealer Finance Portfolio through our branches spread across the country. Given the huge potential to cross-sell our other products to these dealers, we are hopeful that this agreement would give us mutual synergies by way of strengthening  our presence in  supply chain financing segments on one hand and increases market penetration for TKM on the other hand.

Talking about the MoU, Mr. Vikramaditya Singh Khichi, Executive Director, Bank of Baroda, said, “We are very pleased to sign a MoU with Toyota Kirloskar Motor Pvt Ltd for the Auto Loan Finance. This alliance augments our focus on Retail Auto Finance business and will give value to our Customers and Toyota’s customers. With our wide branch network of over 9000 branches, we will be able to finance customers across the country and further penetrate into Auto Loan market share. This relationship will further unleash the potential of both organizations and will augment our MSME segment with Dealer Finance Program and Retail segment with Auto Loan Finance.”


Read This Also : Toyota Kirloskar Motor Announces Special Offer for Salaried Customers at the onset of the festive season


Commenting on the tie-up, Mr. Naveen Soni, Senior Vice President, Sales and Service, TKM, said, “The association is part of our efforts to enable new-age banking and finance solutions for a hassle-free and seamless experience for both our customers and dealers. Under our customer-first approach, we will continue to innovate and offer more options to our customers and dealers reflecting the prevailing needs and emerging market demand. The MoU with Bank of Baroda comes at an opportune time for us, with our recent foray into the B-segment with new models like the all-new Toyota Urban Cruiser. We have also been witnessing good demand from both large and small cities and towns for both Urban Cruiser & Glanza. Under the association, we will have access to their extensive network spread across the country including metros and Tier II and III cities and towns. They are an ideal partner for us and we are delighted and look forward to working closely with them to increase the reach of Toyota products to every nook and corner of India.”

TKM always strives to enhance the customer experience throughout the life cycle by launching timely and relevant schemes for easy finance, sale of old vehicles, service etc. This new association with Bank of Baroda will promote various finance options to customers and dealers at all the branches of the bank to help them with quick and easy access to loans.

Overview of TKM

Company name Toyota Kirloskar Motor Private Limited
Equity participation TMC: 89%, Kirloskar Systems Limited (Mr. Vikram S. Kirloskar): 11%
Number of employees Approx. 6,500
Land area Approx. 432 acres (approx.1,700,000 m2)
Building area 74,000 m2
Total Installed Production capacity

Upto 3,10,000 units

 

Overview of TKM 1st Plant:

Established October 1997 (start of production: December 1999)
Location Bidadi
Products Innova, Fortuner manufactured in India.
Installed Production capacity

Upto 1,00,000 units

 

Overview of TKM 2nd Plant:

Start of Production December 2010
Location On the site of Toyota Kirloskar Motor Private Limited, Bidadi
Products  Toyota Yaris & Camry Hybrid
Installed Production capacity Upto 2,10,000 units

 

Tags: Bank of BarodaToyota Kirloskar Motor
ShareTweetShareSendShareShareSendPin
Previous Post

“Speed and agility helped us turn things around,” CEO Rohit Chadda as Zee Digital maintains the 2nd rank on Comscore

Next Post

How Choosing The Right Makeup Academy Can Boost Your Makeup Career

Related Posts

Here come the new megastars in the two wheeler industry- ELESCO V1 and V2 ex showroom price starting from Rs 69,999/-
Auto

Here come the new megastars in the two wheeler industry- ELESCO V1 and V2 ex showroom price starting from Rs 69,999/-

April 14, 2023
The Wealth Advisor is all set to open its first branch in Gujarat
Finance/Money

The Wealth Advisor is all set to open its first branch in Gujarat

April 7, 2023
Hyundai Creta and Bajaj Pulsar emerges as the most popular car and bike: Droom India Automobile Ecommerce Report’ 2022
Auto

Hyundai Creta and Bajaj Pulsar emerges as the most popular car and bike: Droom India Automobile Ecommerce Report’ 2022

February 27, 2023
PayRup, India’s Fastest Payment app is launched
Finance/Money

PayRup, India’s Fastest Payment app is launched

January 9, 2023
Drivio, a digital-first omnichannel two-wheeler financing platform in making, raises USD 1 million in seed funding
Business

Drivio, a digital-first omnichannel two-wheeler financing platform in making, raises USD 1 million in seed funding

January 2, 2023
Trucknetic Introduces ‘EVolev’ as India’s first platform for EV Trucks
Auto

Trucknetic Introduces ‘EVolev’ as India’s first platform for EV Trucks

December 17, 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

“TAVVAI”: A Mythological tale of Misfortune and Redemption!!!!!

“TAVVAI”: A Mythological tale of Misfortune and Redemption!!!!!

13 hours ago
The User-friendly Interface of FairPlay Makes Betting Convenient for both Newcomers and Seasoned Players

The User-friendly Interface of FairPlay Makes Betting Convenient for both Newcomers and Seasoned Players

14 hours ago

Trending

FairPlay: Your One-Stop Destination for Premium Sports Betting with Best Odds in the Market

FairPlay: Your One-Stop Destination for Premium Sports Betting with Best Odds in the Market

7 days ago
Refer and Earn with FairPlay: Enjoy a 15% Referral Bonus

Refer and Earn with FairPlay: Enjoy a 15% Referral Bonus

7 days ago

Popular

Suraasa awards cash prizes worth Rs 11 lakhs to teachers

Suraasa awards cash prizes worth Rs 11 lakhs to teachers

4 weeks ago
SAKRA World Hospital launches the SAKRA Information Centre in Bardhaman, West Bengal

SAKRA World Hospital launches the SAKRA Information Centre in Bardhaman, West Bengal

3 weeks ago
Cuddle with Kulhad: The Inspiring Story of Chai Sutta Bar

Cuddle with Kulhad: The Inspiring Story of Chai Sutta Bar

2 months ago
Kingston Technology Ships 100 Million Overclockable Modules

Kingston Technology Ships 100 Million Overclockable Modules

4 weeks ago
EnableX wins the Gold in Software Reviews 2022 CPaaS Report

EnableX wins the Gold in Software Reviews 2022 CPaaS Report

1 year ago

Gujarat Journal, digital news and story platform bring you the news, articles, stories, and opinions on the latest happenings worldwide covering various sectors like nation, politics, and governance, social sector, review, foreign affairs, defence and security, latest review, lifestyle, entertainment, sports, technology, auto sectors, education, business and start-ups updates, Agriculture, Science, finance, money, food, and culture, etc.

Category

  • Agriculture
  • App News
  • Astrology
  • Auto
  • Business
  • Education
  • Entertainment
  • Fashion & Beauty
  • Finance/Money
  • Food
  • Gujarat News
  • Health & Fitness
  • India
  • Lifestyle
  • National
  • Photography
  • Politics
  • Press Release
  • Religion
  • Science
  • Social Work
  • Sports
  • State News
  • Tech
  • Travel
  • Uncategorized
  • World

Follow Us

  • About Us
  • Advertise
  • Contact Us
  • DMCA
  • Follow on Google News

Copyright © 2022 Gujarat Journal

No Result
View All Result
  • About Us
  • Advertise
  • Contact Us
  • DMCA
  • Home
  • Privacy Policy

Copyright © 2022 Gujarat Journal

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In