Toyota Financial Services India Launches a First-of-its-Kind Fast Track Car Loan Service for Customers

Highlights

* The new service named Tatkal loan enables customers with a loan approval within thirty minutes of its application
* An Industry first initiative where loan approval is done through an automated system
* Customer bank statement and CIBIL score are considered for loan approval process

Toyota Financial Services India (TFSIN) today, launched a fast track car loan service called ‘Tatkal Loan’ enabling customers to get a loan approval within thirty minutes of its application. Tatkal Loan is an industry first service and offers loan up to 85% of the vehicle’s ex-showroom price. The loan process is completely automated and takes into consideration the customer’s bank statement and CIBIL score for the loan approval process.

The Tatkal Loan service is available for all new and existing Toyota customers who own a house and are purchasing the car for personal usage. It is a hassle-free and simple process wherein the customers need to submit only select documents including: Photo, ID, bank statement and residence ownership proof. This tailor made service is customer friendly and incorporates a tele verification unlike other loan approval processes where customers have to be present in-person for verification. This loan service is available for all Toyota vehicles including: all the Etios series, Glanza, Yaris & Innova.

Commenting on the launch of the Tatkal Loan service, Mr. Tomohei Matsushita, MD & CEO, Toyota Financial Services said, “At Toyota, we firmly believe in the ‘Customer First’ philosophy, always catering to our customers’ expectations and needs, thus providing quick, cost effective, transparent and personalized services. With Tatkal loan service, we aim to make the car buying process simple, accessible and easy for all our customers. Customers can visit any Toyota dealership, choose a vehicle of their choice, submit the required documents and get a loan approved within 30 minutes through this service. Leveraging upon technology, the entire process is automated and includes minimal interface with easy documentation for customers with good credentials. We hope this service will make loan approval process seamless for our valued customers and they would be able to take maximum benefit from it.”