Federal Bank on Wednesday signed a Memorandum of Understanding (MoU) with Ashok Leyland, which will enable the two to offer customised financial solutions to their customers.

“The bank will work towards catering to the customers’ needs through commercial vehicle loans with easy monthly repayment plans best suited for the customers. Moreover, the bank will leverage technology for enhancing customer experience,” Federal Bank said in a statement.

Harsh Dugar, Group President, Federal Bank said, “In our bank, funding to commercial vehicles is offered through dedicated RMs and wide network of branches. With this partnership, we will be able to offer our financial solutions by leveraging the bank’s extensive physical and digital reach to the customers of Ashok Leyland and its dealers.”

Ashok Leyland offers a comprehensive range of trucks and buses ranging from intercity light commercial vehicles to 49-tonne long haul trucks and a wide range of buses.

Gopal Mahadevan, Whole Time Director and CFO, Ashok Leyland, said this association would help the company gain an edge in the market.

News Source: News Experts