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Hyundai Signs Agreement with Syndicate Bank

By Motortrend India Staff   |   04 February,2009

Hyundai Motor India Ltd. has signed a MOU (Memorandum of Understanding) with the Syndicate Bank to provide easy car finance to all its car buyers across the country. This partnership will help both (Hyundai Motors and Syndicate Bank) to reach out to a wider market and accelerate car loan disbursals.

Speaking on the occasion, Sr. Vice President of Hyundai said, “We are glad to partner with Syndicate Bank as we see it as a value addition for our customers. In the current scenario, we consider it as a welcome move as there is a need for increased financing options and rationalized interest rates for the benefit of our customers. Syndicate Bank known for its initiatives with its competitive products and wide reach is sure to broaden the choice for customers seeking finance options, as we want to give our customers the best experience, not only while driving our cars, but also when buying them.”

In addition, the CMD of Syndicate Bank, George Joseph said, “We are very pleased to tie up with Hyundai Motor India Ltd. 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 will provide very competitive interest rate and increased convenience to both our customers. The bank will also finance second-hand cars, which in itself has an increasingly growing demand.”

Hyundai has a huge portfolio of cars in the Indian car market. With this partnership the company desires to strengthen its position in the country and lay increased focus on retail expansion.

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