Hyundai signed MOU with Corporation Bank

Hyundai Motor India Ltd (HMIL), the second largest car manufacturer and the largest passenger car exporter in India, signed MOU with Corporation Bank for financing the purchase of the cars manufactured by HMIL. The bank's general manager M P Kunju and HMIL senior vice president (Marketing and Sales) Arvind Saxena signed the MOU. Under the MOU, Corporation Bank, a major public sector bank today, will be financing prospective constituents to acquire Hyundai cars at a rate of interest of 10.25% for 3 years and concessional processing charges (Rs. 1,000/- flat). The bank will be financing these cars under its ‘Corp Mobi' scheme that offers attractive interest rates. All branches of the bank from across the country will be covered under this tie-up arrangement. HMIL also achieved yet another key milestone in its decade old journey in India by clocking the fastest three lakh i10 sales since its launch on 31st October, 2007.