Here is why Maruti Suzuki-Federal Bank tie-up is a big win for car buyers, auto loan seekers - Check key benefits
Maruti Suzuki India Limited (MSIL) has announced that it has joined hands with Federal Bank to provide dealer finance and customised auto retail financing solutions to customers. The MoU was signed in the presence of Ajay Seth, Senior Executive Director & CFO, MSIL, Shashank Srivastava, Executive Director (Marketing & Sales), MSIL, Shyam Srinivasan, MD & CEO, Federal Bank and other senior officials from both the organizations.
Some of the key benefits to the customers from Maruti Suzuki-Federal Bank tie-up are:-
-Higher Loan to Value
-Longer Repayment Tenure
-Competitive Interest Rates
"In August 2019, MSIL had inducted Federal Bank as an approved partner for dealer inventory funding. The latest tie-up for retail financing to customers will further offer comprehensive loan access facilities to Maruti Suzuki dealers as well as customers," Maruti Suzuki said in a statement.
Speaking on the partnership, Shashank Srivastava, Executive Director (M&S), MSIL said, “We are extremely delighted and confident that our collaboration with Federal Bank for providing retail financing solution will further benefit our customers. Federal Bank’s extensive presence pan India and strong presence in Kerala and its neighbouring states will help us expand our customer base.”
On the alliance, Shyam Srinivasan, MD and CEO, Federal Bank, said, “This arrangement will help us offer end to end solution for dealers and retail banking customers via best in class technology enabled platform. Our endeavour of seamless financing options shall result in further strengthening market penetration for Maruti Suzuki and our dealer partners and buyers.”