Hyundai joins hands with IndusInd Bank for car loans

Private sector bank IndusInd has entered into a memorandum of understanding (MoU) with Hyundai Motor India for facilitating car loan financing for its interested customers.

The agreement was signed by S V Parthasarathy, executive vice-president (consumer finance division) of IndusInd Bank and Arvind Saxena, senior vice president, marketing and sales, Hyundai Motor India.

Announcing the tie up with Hyundai Motor India, Parthasarathy said, ''Capitalising on our extensive network coverage of urban, semi-urban and rural areas, we can now tap this set-up to benefit both the parties.''

Parthasarathy said while Hyundai will get access to new markets and customers, IndusInd Bank will be able to offer finance options for a wide spectrum of passenger cars through its branches.

''We will be positioning resource persons at all our branches for dealer coordination. This strategic alliance is a part of our expansion strategy in the consumer finance segment,'' he added.

Commenting on this financing tie-up, Saxena, said, ''We are glad to partner with IndusInd Bank, as through this tie-up we will be able to introduce multiple customer centric initiatives for the benefit of the customers.''