Recently, Toyota Financial Services launched a new fast track car loan service called ‘Tatkal Loan’ for customers across India. This new type of loan service helps customers get loan approval within thirty minutes. Tatkal Loan is an industry-first service and offers customers a loan of up to 85% of the vehicle’s ex-showroom price. Also, the loan process is completely automated, as it checks the customer’s bank statement and CIBIL score automatically for the loan approval process.
Currently, 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. The process is completed in a hassle-free and simple manner, wherein the customers need to submit only select documents including Photo, ID, bank statement and residence ownership proof. Also, this customer-friendly loan process incorporates a telephone verification, unlike other loan approval processes where customers have to be present in-person for verification. The ‘Tatkal Loan’ service is available for all Toyota vehicles including the Etios series, Glanza, Yaris and 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 the loan approval process seamless for our valued customers and they would be able to take maximum benefit from it.”