IDBI Bank and Chevrolet sign MoU for vehicle loan financing

IDBI Bank Ltd and Chevrolet Sales India Private Limited (CSIPL) entered into a Memorandum of Understanding (MoU) on September 19 for providing auto finance to prospective customers of Chevrolet.
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The MoU was signed by C S Jain, Head-Personal Banking Group, IDBI Bank Ltd, and Ankush Arora, Director & Vice President, Marketing & Sales, CSIPL.

The loan facility for CSIPL prospective customer will be extended up to 7 years with maximum funding on 'on road price' and faster processing.
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The Bank would extend financing facilities to eligible customers for CSIPL cars and multi-utility vehicles.

The tie-up will benefit both, IDBI Bank in further strengthening its position in retail loan space and CSIPL in leveraging the retail financing strength and reach of the Bank.