Toyota Financial Services launches instant loan scheme

Toyota Financial Services, the NBFC arm of the auto major Toyota on Thursday launched an instant financing scheme under which it claims to offer a car loan within 30 minutes. However, the loan disbursal is contingent on the applicant owning a house and the vehicle is for personal use, a statement said.

"With the 30-minute loan service, we aim to make the car buying process simple, accessible and easy for all our customers, said Tomohei Matsushita, managing director and chief executive, Toyota Financial Services. The entire vehicle process under Tatkal service is automated and includes minimal interface with easy documentation for customers with good credentials, the company said..