Karnataka Bank has signed a Memorandum of Understanding (MoU) with Hyundai Construction Equipment India, construction and earthmoving equipment manufacturer. The partnership with Hyundai is expected to broaden the Bank’s MSME funding prospects.
This MoU will allow both Hyundai and Karnataka Bank to provide consumers with customised financial solutions. With this tie up, Bank will be designated as a financial partner and will be able to meet the needs of its customers by providing loans at competitive interest rates for purchase of a wide range of equipments from the product line of Hyundai Construction Equipments India.
Karnataka Bank operates as a private sector bank. Its products and services include current account, demand, time, cumulative, cash certificates, insurance linked savings bank deposits, resident foreign currency accounts and senior citizens deposit schemes.