Mercedes-Benz aims to tap High Net Income customers of SBI through new tie-up

Mercedes-Benz India on Tuesday announced a partnership with State Bank of India (SBI) to offer a range of finance schemes to make its products more affordable to purchase for High Net Income (HNI) customers of the country's largest bank.

In a press statement issued regarding the tie-up, Mercedes informed that the partnership will benefit SBI customers to avail a number of finance benefits which include an attractive rate of interest and additional benefits of ₹25,000 for YONO customers who make use of SBI's digital platform to book one of its luxury offerings. YONO is an integrated digital banking platform offered by SBI which offers bank customers to access a number of financial and other services.

SBI is hoping the partnership enables its customers to cement plans of owning a Mercedes-Benz. "We are glad to be associated with Mercedes-Benz to offer a rewarding experience to our customers while owning their favourite Mercedes car," said CS Shetty, MD (Retail and Digital Banking), SBI.

The partnership could be symbiotically beneficial for Mercedes as well. "The collaboration with SBI gives us an exciting opportunity to expand our customer base and reach out to the potential HNI customers of the bank with our products and services," said Martin Schwenk, Managing Director and CEO, Mercedes-Benz India. "Mercedes-Benz has been constantly exploring new avenues to reach out to potential customer base and this is the first time we are collaborating with any bank."