Toyota, UCO Bank seal car loan deal

Toyota Kirloskar Motor (TKM) Ltd. said on Thursday that it has signed an agreement with UCO Bank earlier this month to extend finance to its prospective customers. The Bank will be one of the preferred financiers for the entire range of vehicles sold by Toyota. The CMD, UCO Bank said that the tie-up will enable the Bank to increase its car loan portfolio substantially.The ED, UCO Bank said that inorder to increase the competitiveness of the Bank's Car Loan Scheme, the product has been modified and interest rate is lowered to make it more attractive in the market place.(BL 24092010)