Hyundai Motor signs MoU with UBI

The second largest car manufacturer and the largest passenger car exporter, Hyundai Motor India Ltd has signed a Memorandum of Understanding with United Bank of India in order to provide convenient finance options for its customers. This MoU was signed by Mr. Arvind Saxena, Director, Marketing & Sales, HMIL and Mr. R. K. Mohanty- General Manager (Retail Banking, HRD, Planning, Resources & Research).

UBI is a premier public sector bank and has got its headquarters in Kolkata. UBI has 1,558 branches across India. The bank has also provided 300 ATMs all over the country. To ensure perfectly consistent and coherent banking for its customers, the bank provides various useful services. This strategic MoU will help both Hyundai Motors and UBI to leverage their individual strengths. This deal will also help both the partners to reach out to a wider market. Another advantage would be the availability of loans for the prospective car owners on user-friendly terms.

Arvind Saxena, Director, Marketing and Sales, HMIL, while signing the MoU, expressed his happiness over this deal and said that their customers will greatly benefit with the competitive rates and convenient locations which UBI provides. He also said that this tie up will further help them to reach their customers as the company’s sales network is increasing rapidly. He also mentioned better and easier finance options.

The MoU between Hyundai Motors India and UBI will source Hyundai Motor India car loan business using their customer database. Both the partners will also benefit from each other’s strengths. Currently, HMIL has a 293 strong dealer network along with 580 strong service points all over India.