Toyota announced the signing of Memorandums of Understanding (MoUs) with the country’s leading public sector bank, Bank of Baroda (BoB) , 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 Toyota. 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, Toyota dealers will benefit from the best Digitized Supply Chain Finance with competitive interest rates.
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.