New Delhi: To facilitate easy financing for customers, Maruti Suzuki India Limited (MSIL) today partnered with Indian Bank, a leading Public Sector Bank, to provide customized and attractive car loans for customers. Maruti Suzuki customers can avail the loan benefits across 5700+ branches of Indian Bank at metro, urban, semi-urban and rural locations.
Maruti Suzuki has a vast network of 3,357 new car retail outlets across 2,156 cities and towns. With this partnership, Maruti Suzuki now has retail finance tie-ups with 37 financial institutions including all 12 Public Sector Banks, 11 Private Banks, 7 NBFCs and 7 Regional Rural Banks.
Maruti Suzuki customers, under this exclusive scheme, can avail loans upto 90% of the on-road price of the car besides getting benefits of zero processing charges, free accidental insurance cover upto Rs. 30 lakhs, free fastag and repayment tenure upto 84 months on their loans. This scheme is open till 30th June 2022.
Rolling out the customer-friendly initiative, Mr. Shashank Srivastava, Senior Executive Director (Marketing & Sales), Maruti Suzuki India Limited, said, “Customer centricity and convenience are at the core of all our operations. With this partnership with Indian Bank, our valuable customers will be able to finance 90% of the on- road price of the car from over 5700+ branches across the Indian Bank network. This will help our customers get an attractive rate of interest and customized EMI options as per their requirements. About 80% of retail sales in the automobile industry happen through financing and to enable our customer’s car-buying decisions, Maruti Suzuki has initiated several partnerships with banks & NBFCs across the public and private sectors. It is our firm belief that this partnership with Indian Bank will go a long way to cater to the diverse finance requirements of our customers.”
Commenting on the partnership, Mr. Shanti Lal Jain, Managing Director & CEO, Indian Bank, said, “We are delighted with our partnership with Maruti Suzuki, India’s largest passenger vehicle manufacturer to provide attractive and easy car finance options for their customers. Indian Bank has a wide presence all over the country and we are confident of offering best-in-class services to Maruti Suzuki customers for meeting their aspiration of owning a car. We are committed to making the car financing experience more convenient for the customer, and a variety of options in terms of rate of interest will be made available to simplify the financing process.”
Senior Executive of Maruti Suzuki India Limited, Mr. Vikas Kohli, Vice President (Allied Business) and from Indian Bank, Shri Imran Amin Siddiqui and Shri Vikas Kumar, General Manager (Retail Assets) were also present, with their respective teams, on the occasion of signing of the partnership.
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