"With this association, we 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 our customers," Hyundai Motor India Ltd (HMIL) Director (Marketing and Sales) Arvind Saxena said in a statement.
Under the agreement, both the firms will work together to provide car loans using HMIL's customer database.
"The tie-up will cover financing options by all the branches of the bank in India. Both the partners will utilise and leverage each other's strengths to cross sell Hyundai vehicles along with the bank's car loans and schemes," the statement said.
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