Toyota India launches 'tatkal loan' facility for customers

BENGALURU : Japanese car maker Toyota India on Thursday launched a facility for fast tracking car loans to its customers within 30 minutes of their applying.

File photo for representational purpose. (AP)
File photo for representational purpose.

"The new service named 'Tatkal' loan enables our customers to get loan approval in 30 minutes of submitting the application," said the city-based Toyota Motor Corp (TMC) in a statement here.

TMC is a joint venture between global auto giant Toyota and the Pune-based Kirloskar Brothers.

With the financial arm touted to be a maiden industry initiative, the Toyota Financial Services India will use an automated system for speeding up the loan approval process.

Trending Cars

Find more Cars

Covering up to 85 per cent of a Toyota car's ex-showroom price, the Tatkal loan offer will take into account a customer's bank account and CIBIL credit score.

Toyota is extending the loan to any customer owning a house, with the intention to buy the car for personal use, and holding an identity card, bank statement, residence ownership proof and a photograph.

Offering the loan service to customers without personally being present, Toyota has opened the scheme on all its models to be availed remotely, as well as via tele-verification.

"With Tatkal loan service, we aim to make the car buying process simple, accessible and easy for all our customers. Submit the required documents and get a loan approved within 30 minutes," Toyota Financial Services Chief Executive Officer (CEO) Tomohei Matsushita said in the statement.

First Published Date: 22 Nov 2019, 09:40 AM IST
NEXT ARTICLE BEGINS
Shopping Bag Shop Now
73% OFF
IDELLA Car Duster, Extendable Long Handle Microfiber Car Duster Exterior Scratch Free Car Cleaning Tool, Car Dust Brush for Truck, Pickup, SUV, RV, Motorcycle, Vehicles Cleaning,(Multicolor)
Rs. 239 Rs. 899
64% OFF
Antson Portable High Power 2 in 1 Car Vacuum Cleaner | USB Rechargeable Wireless Handheld Car Vacuum Cleaner Traveling, Camping Reusable and Sustainable, Portable,Rechargeable Vacuum (2 in 1)
Rs. 699 Rs. 1,939
74% OFF
Microfiber Car Cleaning Soft Brush Ideal as Mop Duster, Washing Brush with Long Handle, Dust Cleaner Car Wash Brush with Handle, Soft Brush Scratch Free, Cleaning Dashboard Curved Design - Grey
Rs. 389 Rs. 1,499
1% OFF
GOODAIR Clear Car Windshield Enhancer | Classic |12 Tablets
Rs. 295 Rs. 299

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city
Choose city
Powered by: Acko Logo
Please be noted that any information provided herein above will be received by Acko General Insurance Limited (“Acko”). By mentioning the above information, you agree to provide these details and information to Acko.
By clicking "View Offers" you Agree to our Terms and Privacy Policy

Dear Name

Please verify your mobile number.

+91 | Choose city
Couldn't verify the OTP.
It's either expired or it's incorrect.