Hyundai Motor India joins hands with Central Bank | autos | Hindustan Times
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Hyundai Motor India joins hands with Central Bank

Hyundai Motor India Ltd, on Friday signed a Memorandum of Understanding with Central Bank of India for convenient car loans options.

autos Updated: Sep 26, 2009 09:10 IST

Hyundai Motor India Ltd, on Friday signed a Memorandum of Understanding with Central Bank of India for convenient car loans for its entire range of vehicles.

Speaking on the occasion, Arvind Saxena, Sr. Vice President, Marketing & Sales, HMIL, said, “We are extremely pleased to partner with Central Bank of India, as it will add to the financing options for our products and give our customers more choice and competitive financing options."

Mr B N S Ratnakar, General Manager, Central Bank of India, expressed, “This MOU with Hyundai Motor India will facilitate cheaper finance options for passenger vehicles.”

To finance the auto loans, the Central Bank has come out with an attractive rate of interest of BPLR-2% for purchase of vehicles with repayment up to 36 months and @ BPLR-1% in case of repayments beyond 36 months up to 84 months.