Toyota and Union Bank of India launch comprehensive vehicle financing solutions

Toyota Kirloskar Motor (TKM) has announced a new partnership with Union Bank of India to offer vehicle financing solutions. The partnership will provide up to 90% financing on the on-road price of Toyota vehicles purchased for private use, with no foreclosure or part-payment charges. 

Under the Union Vehicle Scheme, customers can access flexible financing with tenures of up to 84 months and competitive interest rates starting from 8.80% per annum. For commercial vehicles, the Union Parivahan Scheme offers financing options with tenures up to 60 months. Union Bank’s extensive network will facilitate nationwide access to these financing options. 

Sabari Manohar, Vice President, Sales-Service-Used Car Business of Toyota Kirloskar Motor, highlighted the significance of this collaboration in improving customer experience and broadening the reach of financing options. 

The financing schemes apply to TKM’s entire product line, including models such as the Innova Hycross, Urban Cruiser Hyryder, Fortuner, Camry Hybrid, and the newly launched Urban Cruiser Taisor. TKM also offers various financing solutions through Toyota Financial Services and other partners to enhance the vehicle purchase and ownership experience.