Toyota Kirloskar Motor has signed a memorandum of understanding (MoU) with Union Bank of India to provide enhanced vehicle financing solutions, offering up to 90% financing on the on-road price of Toyota vehicles for private use, with no foreclosure or part-payment charges. Customers can benefit from flexible loan tenures of up to seven years and competitive interest rates starting at 8.8% per annum. This collaboration aims to simplify and make vehicle financing more accessible, thereby improving the customer experience. Union Bank’s extensive network across India will facilitate access to these financing options. The partnership also includes options for commercial vehicle financing, with tenures up to five years. Executives from both companies emphasized the importance of this initiative in meeting evolving customer needs and streamlining the auto finance process.