Maruti Suzuki partners Indian Bank to offer financial solutions to customers

Maruti Suzuki India has partnered with Indian Bank to facilitate easy finance for customers. As part of this partnership, customers of the carmaker will be able to avail loan benefits in over 5,700 plus branches of the Indian Bank at metro, urban, semi-urban and rural locations. Customers can avail loans up to 90 per cent of the on-road price of the car.

Besides this, they can also get benefits of zero processing charges, free accidental insurance cover up to ₹30 lakh, free FASTag and repayment tenure up to 84 months on their loans. The scheme is open till June 30,2022. “About 80 per cent 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," the company's Senior Executive Director - Marketing and Sales, Shashank Srivastava, said in a statement.

Maruti Suzuki has a vast network of 3,357 new car retail outlets across 2,156 cities and towns. With this partnership, the carmaker 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.

The latest partnership with the Indian Bank will provide additional financing option to its customers. The bank has a wide presence across the country and is committed to making the car financing experience more convenient for the customers with a variety of options in terms of rate of interest being made available to simplify the financing process. "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 said.

(with inputs from PTI)