According to the MoU, State Bank of Hyderabad would be one of the preferred financiers for the entire range of vehicles sold by TKM.
The agreement was signed by the company’s general manager Sailesh Shetty and SBH deputy GM AMR Sharieff. The MOU would target buyers of TKM cars for availing retail loans from SBH under the a number of joint schemes worked out by the two entities.
SBH has come out with schemes like Ezee Car and Advantage Car loans for TKM customers and they would be implemented across the bank branches in the country.
Both SBH and Toyota dealers would promote these loans schemes to provide finance options to customers through all branches of SBH.
TKM is a joint venture between Toyota Motor Corporation of Japan and the Kirloskar group. The company has invested nearly Rs 1,500 crore at its plant in Bidadi (near Bangalore) that employed around 3,000 people. Having started production in December 1999, the TKM facility has a capacity to produce 80,000 cars per annum.