Maruti Suzuki partners with ICICI bank for flexible EMI financing schemes

Maruti Suzuki India Ltd (MSIL) said on Tuesday it is partnering with ICICI Bank to offer customised auto retail financing solutions across the country.

The private sector lender has been a long-standing and preferred partner for retail financing of Maruti Suzuki. Under this association, ICICI Bank will be offering a bouquet of finance schemes to Maruti Suzuki customers to help them overcome current financial challenges.

"With Maruti Suzuki's over 3,000 outlets and ICICI Bank's extensive network of over 5,380 branches across India, the offer will definitely benefit the customers of all profiles who are willing to buy a car," the country's largest passenger car manufacturer said in a statement.

Under one scheme, the EMI amount starts with a low ₹899 on a loan amount of ₹1 lakh for the first three months. Thereafter the EMI amount is higher.

"Low down payment, low EMI products will definitely help aspiring customers to have their own personal mobility solution," said Shashank Srivastava, Executive Director at Maruti Suzuki.

"While fighting the prevailing Covid-19 crisis, we also need to help customers with attractive auto retail financial solutions."