TVS Motors inks MoU with Syndicate Bank

Indian two-wheeler company TVS Motor Company has signed an agreement with Syndicate Bank with an objective of providing easy loans at low interest on the three-wheelers launched by the company.

TVS Motor company apart from manufacturing two-wheelers is also involved in manufacturing three-wheelers, both passenger and goods carrier in the global market. According to reports, by signing this agreement with Syndicate Bank, TVS Motors will be able to provide hassle-free loan facility to its customers who are interested in buying three-wheeler models such as TVS King at the lowest possible interest rates.

As both TVS Motors and Syndicate Bank are established names in their segment known for their reliability, they have large distributor network in almost in every part of the country.

According to the MoU signed between TVS Motors and Syndicate bank, the loan facility will  be available on the purchase of TVS king at all the 2,493 branches of TVS Motors.

TVS Motors also speculates that not only huge segment customers will be benefited by this alliance but it will also help both the TVS Motors and Syndicate Bank in increasing the number of customers and thus will be able to widen market for their products.

Established in 1911 by Sundaram Iyengar, TVS Motor Company is the only two-wheeler company in India which was established without the help of any international joint venture. With an annual turnover of more than $3 billion, TVS motors became the third largest two-wheeler company in India and is ranked among the first ten two-wheeler companies of the world. In the later years company entered in collaboration with another legendary auto manufacturing company Suzuki from Japan and introduced the first 100 cc bike on Indian Roads TVS Suzuki, however this venture came to an end in 2003. After the end of this venture there were rumors that soon TVS motors will come to an end but TVS Motors proved its critics wrong and strongly hosted the flag of TVS with same reputation.

At present TVS Motors has an objective of capturing one-fourth market of two-wheelers in the country. The most renowned TVS bikes at present running on the Indian roads are TVS Apache, TVS Flame, TVS Scooty Pep which are highly acclaimed by large segment of customers.