Sany Bharat signs MOU with Union Bank of India

With an aim to make equipment financing an easy, efficient, and simple process, Sany Bharat recently 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.

The Memorandum of understanding was signed at Mumbai by Mr Dheeraj Panda, Chief Operating Officer (Sales, Marketing & Customer Support) Sany Heavy Industry India Pvt. Ltd and Shri CM Minocha, Chief General Manager , MSME, Union Bank of India.

Speaking on the occasion Mr Dheeraj Panda said, “We are delighted to be associated with Union Bank of India, considered to be a pioneer amongst PSU Banks. By enhancing their focus on MSME sector, union bank of India has eased the financial burden for our existing and potential customers.” Speaking about the significance of owning a Sany equipment, he further said, “It’s a well-known fact that Sany equipment signify quality, productivity and versatility. By joining hands with Union Bank of India, interest rates will no longer prevent our buyers in becoming a proud owner of Sany equipment. Our association with Union Bank will not only be mutually beneficial but has the potential to herald amazing growth prospects for our customer sand stakeholders alike.”

As per recent reports, Union Bank of India has opened funding for retail and construction Equipment Sector from 10 lakhs loan to Rs. 50 Crores.