Hyundai Motor signs MoU with ING Vysya Bank

Hyundai Motor India Ltd. (HMIL), the second largest car manufacturer and the largest passenger car exporter, and ING Vysya Bank, a premier bank in the Indian private sector, today signed a Memorandum of Understanding (MoU) aimed to mutually benefit both companies by better serving their customers.

The MoU was signed by Mr. Arvind Saxena, Director, Marketing Sales, HMIL and Mr. Uday Sareen, Country Head, ING Vysya Bank, India on behalf of their respective organisations.

Speaking on the occasion, Mr. Arvind Saxena, Director, Marketing and Sales, HMIL, said that they are pleased to announce this partnership with ING Vysya Bank, which is one of the prominent banks in the private sector in India. With this association, the company will be able to reach out to a wider consumer base with better and easier finance options. Also, the competitive rates and easily accessible locations of the bank will surely benefit the customers.

With over 874 distribution outlets, ING Vysya bank offers a wide range of services like wealth management, consumer loans, business banking products and agricultural and rural banking products to retail customers.

Under the agreement, both Hyundai Motor India dealers and the bank branches will source Hyundai Motor India car loan business using their customer database. The tie-up will cover financing options by all the branches of the bank in India. Both the partners will utilize and leverage each other’s strengths to cross sell Hyundai vehicles along with the bank’s car loans and schemes.

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