Ashok Leyland has signed a Memorandum of Understanding with Union Bank of India (UBI) to offer tailored financing to customers buying its trucks and buses.
Under the partnership, UBI will provide end-to-end vehicle loans with flexible, easy-to-manage repayment options suited to each customer’s needs. The MoU was signed by Neelakantan, Vice President – Finance, Ashok Leyland, and Alok Kumar, General Manager and Zonal Head, Union Bank of India.
“This strategic partnership leveraging on UBI Network will further strengthen our market presence by enhancing access to our innovative range of commercial vehicles for businesses across the country,” said K.M. Balaji, Whole-Time Director and Chief Financial Officer, Ashok Leyland.
Ms. Madhavi Deshmukh, Senior Vice President – National Sales Head, Medium & Heavy Commercial Vehicles, Ashok Leyland, said the tie-up will give fleet operators and businesses greater financial flexibility, making the company’s vehicles more accessible.
Mr. Alok Kumar said the collaboration reflects UBI’s commitment to simplifying commercial vehicle ownership and helping customers grow their businesses.
The partnership follows Ashok Leyland’s recent financing tie-up with Tamilnad Mercantile Bank, as the company widens access to finance for its customers.