Daijiworld Media Network – Mangalore (SP)

Mangalore, Mar 26: Corporation Bank signed a memorandum of understanding (MOU)with Hyundai Motor India Ltd (HMIL) on Wednesday March 25, for financing the purchase of the cars manufactured by HMIL. The bank’s general manager M P Kunju and HMIL senior vice president (Marketting and Sales) Arvind Saxena signed the MOU in the city.

The tie-up provides for the additional facility of car loans for Hyundai customers, from Corporation Bank. The bank will be financing these cars under its ‘Corp Mobi’ scheme that offers attractive interest rates.  All branches of the bank from across the country will be covered under this tie-up arrangement.

The tie up aims at enabling both the organizations to reach out to wider market and offer convenient and easy auto loans to prospective customers. It would help to utilize and leverage each other’s strengths to cross-sell Hyundai vehicles as well as the bank’s car loans and schemes, a joint press release issued by Corporation Bank and Hyundai Motor India Ltd said.