Toyota Kirloskar and ICICI Bank launch automobile credit card

New Delhi, Mar 16 (UNI) Toyota Kirloskar Motor in association with ICICI Bank today launched the country's first automobile credit card offering a host of special benefits to its customers.

''This will be another value addition for our customers in our efforts to boost sales and retain existing customers,'' Toyota Kirloskar Motors deputy managing director K K Swamy said here at the launch of the card.

Toyota ICICI Bank credit card will offer benefits on all aspects of motoring to customers who purchase a new Toyota vehicle, he said.

ICICI Bank Ltd executive director Chanda Kochhar said the tie-up is a part of the bank's initiative to further consolidate its market position.

''We have the leading position in housing and automobile finance.

Our share is 35 per cent in credit cards market, and 33 per cent in total credit cards spend. The new partnership with Toyota will further strengthen our position,'' she said.

The benefits offered by the card include, 5 per cent discount on standard Toyota accessories purchase; multiplier reward scheme -- which provides customers the option to multiply existing reward points by ten times and use it for downpayment of a new Toyota car purchase; and also the option to convert downpayment to equated monthly installments, among others.

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