Hyundai India partners ICICI Bank for online retail finance

Hyundai Motor India on Monday signed an agreement with private sector lender ICICI Bank for online retail financing of its vehicles.

Hyundai Motor India Ltd ( HMIL) is the first original equipment maker to provide tailor-made online car financing options on a single platform, 'Click to Buy', the company said in a release.

Under the partnership, ICICI Bank has integrated its finance solutions online with the car maker's digital sales platform, it said, adding that through the tie-up, Hyundai will enable customers to avail an end-to-end composite online solution for car buying along with the required funding to purchase their car.

Hyundai's designated platform facilitates end-to-end retailing of its cars online, making a new car purchase contactless, safe, convenient and hassle free, the release said.

"With Click to Buy, Hyundai has offered customers the first ever end-to-end online car buying portal that is a one stop solution to customer needs. Through our partnership with ICICI Bank, we will fortify customer purchase journey from any remote location and enable real-time transaction with the most productive finance deals," said W S Oh, Executive Director for Corporate Planning at HMIL.

With this tie-up, pre-approved customers of ICICI Bank, can directly apply for a car loan through 'Click to Buy' website and procure an instant loan sanction without having to physically visit the branch, the company said.

In addition to these services, ICICI Bank also offers up to 100 per cent on-road funding as well.

"We are delighted to join hands with Hyundai Motor India to offer an array of online finance solutions for customers looking to buy new Hyundai cars," said Ravi Narayanan, Head - Secured Assets, ICICI Bank.

The online one-stop sales solution offers access to Hyundai's complete range of car models and covers all stages of customer purchase journey, it said.