India’s largest car manufacturer Maruti Suzuki India Ltd (MSIL) has inked a strategic partnership with IndusInd Bank in a bid to offer vehicle financing to help encourage sales after resumption of operations after lockdown relaxations.
Via this alliance, consumers will be able to avail low cost EMI scheme for the first three months starting at Rs 899 per lakh; step-up scheme with EMI starting with Rs 1,800 per lakh; up to 100 per cent on-road funding for customers with valid income proof, said the company’s official communiqué.
Besides, customers who do not have valid income proof will be able to avail up to 100 percent ex-showroom funding, added the statement. These offers are valid for all Maruti Suzuki models.
The bank is also offering a variety of finance options including low EMI scheme, step-up and balloon payment options and funding 100 per cent on-road price for the vehicles, in the wake of the current COVID-19 pandemic scenario.
Commenting on the partnership, MSIL Executive Director (Marketing & Sales) Shashank Srivastava said, “IndusInd Bank is one of our leading finance partners.
This collaboration is aimed at providing support to our customers who might be facing liquidity crunch in the prevalent COVID-19 scenario.”
“Also with the bank’s expertise in lending to a variety of customers, especially with no income proof, we are extremely confident of the collaboration bringing in convenience to both the rural and urban customers of MSIL,” Srivastava said.
“With this partnership, we aim to fulfil the desires of customers of owning a car of their choice in the most seamless manner,” said S V Parthasarathy, Head (Consumer Finance Division), IndusInd Bank.