Car maker Toyota Kirloskar Motor today said it has entered into a memorandum of understanding with the country's largest lender, State Bank of India (SBI), for vehicle finance.
Under the agreement, SBI will be one of the preferred financiers for the entire range of vehicles marketed by Toyota Kirloskar Motor (TKM), the car maker said in a statement.
"The MoU aims at targeting high end customers who will be availing car loans from SBI above Rs 5 lakh onwards," it said.
SBI has come out with a special scheme 'SBI Advantage Car Loan Scheme' for this segment of customers, the statement added.
