Maruti Suzuki collaborates with Equitas Small Finance Bank to expand retail car financing network

Maruti Suzuki India has signed an MoU with Equitas Small Finance Bank, entering into a strategic vehicle financing partnership for customers.

The carmaker said in a statement this week that this collaboration, which aims to provide retail financing solutions for new, used, and commercial vehicles, will enhance the accessibility and affordability of Maruti Suzuki vehicles for a broader range of customers.

The collaboration with Equitas Small Finance Bank will leverage the bank's growing customer base to benefit diverse Maruti Suzuki customer profiles and offer them a range of comprehensive financing solutions.

"The strategic partnership will also offer competitive financing offers that are tailored to provide greater customer benefits," the carmaker added in its statement.

Partho Banerjee, Senior Executive Officer, Marketing and Sales, Maruti Suzuki India Limited, said the collaboration with Equitas Small Finance Bank will enable them to reach an even wider audience and offer them with competitive financing offers.

"We are confident that this partnership will drive growth and customer satisfaction. We remain dedicated to providing a wide range of easy and hassle-free finance options for our esteemed customers. Our partnership with Equitas Small Finance Bank reinforces this vision, providing tailored and affordable financing options for our customers," Banerjee added.

Jagadesh J, Head - Assets, Equitas Small Finance Bank Limited, said, "At Equitas, we are always focused on enabling customer's aspirations and this collaboration with Maruti Suzuki, a leader in the automotive industry, is a step towards serving our customers even better."

"This partnership aligns with our mission of 'Customer- First' and cater to their needs by providing them with accessible and affordable financing solutions, in purchasing their vehicle. We look forward to helping more individuals and families across the country to turn their dream of owning a Maruti Suzuki vehicle into reality," Jagadesh J added.

Maruti Suzuki is India's leading passenger car manufacturer with a vast network of 4000+ sales and 5000+ service outlets.

It has an extensive product portfolio of 18 vehicles across different price ranges. Maruti Suzuki has an advanced Research and Development facility in Rohtak and multiple manufacturing facilities with a production capacity of 23.5 lakh units per annum.