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Union Bank ties up with Ford Motors

HYDERABAD: Union Bank of India and Ford India have entered into a tie-up, under which the bank will finance Ford vehicles for up to 84 months at a concessional interest rate of 10.5 per cent against 12 per cent under its existing `Union Miles' vehicle loan scheme for other brands. Addressing a press conference, after signing the agreement, David Friedman, Managing Director, Ford India, said they hoped to leverage the bank's network to reach out particularly to semi-urban areas. V. Leeladhar, Chairman and Managing Director, Union Bank, said the bank had targeted Rs. 100,000 crore business this year against Rs. 72,000 crores last year.

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