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Hyundai Motor Ties up with Punjab National Bank for Car Loan

By Motortrend India Staff   |   19 February,2009

Hyundai Motor signs a partnership with Punjab National Bank (PNB) in order to provide easy car finance to its customers. The partnership is aimed at accelerating car loan disbursals and offer competitive interest rates.

PNB is one of the largest public sector banks spread over across the country. It has a network of about 4,604 branches including extension counters across 2,557 centres. Signing a deal with Hyundai, PNB desires to reach out to a wider market.

Commenting on this account, RIS Sidhu, CGM of Punjab National Bank said, “The two partners will utilize and leverage each other's extensive customer base to cross-sell Hyundai vehicles and the bank's car loans and schemes. The bank provides very competitive interest rate and increased convenience to our customers.”

In addition, Arvind Saxena, Sr. V. P. of Hyundai said, “In the current scenario, there is a need for increased financing options and rationalized interest rates for customers. The pact with PNB is sure to broaden the choice for customers seeking finance options.”

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