With an aim to make equipment financing an easy, efficient, and simple process, Sany Bharat has signed a Memorandum of Understanding (MoU) with Union Bank of India. As per the agreement, the network of Union Bank will extend equipment finance to customers of Sany Bharat across the country and in turn the Bank's portfolio under equipment finance is likely to strengthen and get a wider reach.
While both the parties have agreed to pool their resources and capabilities for mutual benefits, buyers of Sany equipment can now avail a loan of up to 90% of the equipment cost. The flexible payment options offered by the bank will facilitate Sany customers to manage cash flow and help in loan repayment. The wide spread presence of Union Bank is expected to facilitate Sany's customers pan India and thereby fortify infrastructure growth which is significant towards creating a Naya Bharat.
Union Bank of India is one of the largest government-owned banks of India. The Bank offers products and services in three categories - Deposits, Loans and Advances, and Remittances & Collections.
