New Delhi, January 5, 2024 – Renault India Pvt Ltd. (RIPL), a prominent European automobile brand in India, has announced a strategic partnership with Bajaj Finance Ltd., the financing division of the esteemed Bajaj Finserv Ltd. This collaboration aims to revolutionize car financing by offering Renault customers access to attractive, affordable finance options.
The partnership is set to benefit consumers eyeing Renault’s popular models – Kwid, Triber, and Kiger – with the promise of low-interest rates and a swift, hassle-free loan approval process. Bajaj Finance Ltd. will introduce tailor-made retail finance schemes for Renault customers, including the innovative Flexi Pay Scheme. This scheme, a highlight of the partnership, boasts digital-first experiences and up to 100% on-road funding. The remarkable turnaround time for loan sanctioning is pegged at just 30 minutes, thanks to their streamlined STP Process. The offered Rate of Interest (ROI) is touted as the best in the industry, underscoring the value of this collaboration.
To further enhance customer convenience, the entire financing process, including the loan disbursement, will be digitalized, ensuring a smooth and efficient experience for buyers.
Sudhir Malhotra, Vice President of Sales and Marketing at Renault India Pvt Ltd., expressed his enthusiasm about the alliance. “Renault India is unwavering in its commitment to delivering exceptional services and convenience to our customers,” he said. “Our strategic collaboration with Bajaj Finance introduces a new spectrum of schemes and choices for Renault car buyers, marking a significant step towards affordable and accessible personal mobility solutions for a diverse and valued customer base. We believe this alliance will greatly enhance the convenience and ownership experience for our customers.”
Echoing this sentiment, Siddhartha Bhatt, Chief Business Officer at Bajaj Finance, highlighted their customer-centric approach. “Our digital-first strategy and affordable solutions, like Flexi Loans, make car buying incredibly easy and economical for our customers. Our streamlined process focuses on enhancing convenience and expediting loan disbursement. We are thrilled to partner with Renault India in offering hassle-free and flexible financing options, simplifying the journey of owning a Renault vehicle.”
This partnership is a strategic move by Renault India and Bajaj Finance, aiming to consolidate their market positions and reaffirm their commitment to providing exemplary auto financing solutions. Bajaj Finance, known for its technology-driven approach, offers a comprehensive range of financial solutions, emphasizing digital enhancements to enrich customer experiences.
