Hindustan Motors joins hands with United Bank of India for offering hassle free financing services

Friday 21 September 2012, 11:50 AM by

Hindustan Motors, the India based automaker and the manufacturer of the iconic Ambassador car, has inked a MoU with one of the country’s most reputed nationalised banks, United Bank of India (UBI) for offering easy, convenient and hassle-free financing options to its customers.

The deal has been agreed upon to offer the Hindustan Motors customers, collateral-free loan up to Rs. 10 lakh along with other preferential services and the retail finance assistance will be made available at 1,690 UBI branches across India at just 10 per cent interest.

The MoU was signed by Hindustan Motors’ Uttarpara unit Financial Controller, Mr. Dibyendu Chatterjee and UBI's GM, Mr. Debashish Mukherjee in the presence of HM's MD & CEO, Mr. Uttam Bose, UBI's CMD, Mr. Bhaskar Sen, UBI's Executive Directors, Mr. Deepak Narang and Mr. Sanjay Arya and HM's COO & SBU Head (Uttarpara & Pithampur), Mr. Ramesh Vishwakarma along with other senior officials descending from both the companies.

Mr. Uttam Bose, MD & CEO, Hindustan Motors, was quoted as saying on the event, "The retail financing tie-up with United Bank of India is yet another evidence of HM's customer-centric approach to business. This association will help us reach out to a wider customer base with speedier, smoother and competitive finance options provided by UBI."

Kolkata being a common headquarter for both the organisations; expectations have been built for strengthening this mutually benefitted relationship. The deal precisely aims at providing easy finance service consuming least amount of time with properly streamlined documentation process.