Maruti Suzuki partners Indian Bank to offer financial solutions to customers

Maruti Suzuki customers can avail loans up to 90 per cent of the on-road worth of the automobile beneath this partnership.

By : HT Auto Desk
Updated on:
27 Apr 2022, 01:46 PM

FILE PHOTO: Logo of Maruti Suzuki India  (REUTERS)
FILE PHOTO: Logo of Maruti Suzuki India  (REUTERS)

Maruti Suzuki India has partnered with Indian Bank to facilitate simple finance for customers. As a part of this partnership, customers of the carmaker shall be ready to avail mortgage advantages in over 5,700 plus branches of the Indian Bank at metro, city, semi-urban and rural areas. Customers can avail loans up to 90 per cent of the on-road worth of the automobile.

Besides this, they will additionally get advantages of zero processing expenses, free unintended insurance coverage cover up to 30 lakh, free FASTag and compensation tenure up to 84 months on their loans. The scheme is open until June 30,2022. “About 80 per cent of retail gross sales within the car business occur by way of financing and to allow our buyer’s car-buying choices, Maruti Suzuki has initiated a number of partnerships with banks & NBFCs throughout the private and non-private sectors,” the company’s Senior Executive Director – Marketing and Sales, Shashank Srivastava, mentioned in a press release.

(Also learn | Maruti Suzuki to bolster presence in SUV section to get again to 50% market share)

Maruti Suzuki has an unlimited community of three,357 new automobile shops throughout 2,156 cities and cities. With this partnership, the carmaker now has retail finance tie-ups with 37 financial establishments together with all 12 public sector banks, 11 non-public banks, 7 NBFCs and seven regional rural banks.

The newest partnership with the Indian Bank will present further financing choice to its customers. The financial institution has a large presence throughout the nation and is dedicated to making the automobile financing expertise extra handy for the customers with a wide range of choices by way of rate of curiosity being made accessible to simplify the financing course of. “We are confident of offering best-in-class services to Maruti Suzuki customers for meeting their aspiration of owning a car,” Indian Bank Managing Director and CEO Shanti Lal Jain mentioned.

(with inputs from PTI)

First Published Date: 27 Apr 2022, 01:45 PM IST

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