Maruti Suzuki is a partner of Indian Bank for auto loans

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Maruti Suzuki India (MSIL) partnered with Indian Bank on Wednesday for auto loans for their customers.

Maruti Suzuki customers can apply for the loan at any of Indian Bank’s more than 5,700 branches in metro, urban, semi-urban and rural areas, the company said in a statement.

MSIL has 3,357 retail stores in 2,156 cities and towns. It has retail finance links with 37 institutions, including 12 public sector banks, 11 private banks, seven non-bank financial firms and seven regional rural banks.

As part of the partnership with Indian Bank, Maruti Suzuki customers can apply for loans up to 90 percent of the on-road vehicle price, alongside offers such as zero processing fee, free accident insurance coverage up to 30 lakh, free FASTag and loan repayment term up to 84 months. The offer is valid until June 30, the company added.

“Approximately 80 percent of retail sales in the automotive industry are through financing and to facilitate our customers’ car purchasing decisions, Maruti Suzuki has initiated several partnerships with banks and NBFCs in the public and private sectors,” Shashank Srivastava, Senior Executive Director (Marketing and Sales) , MSIL, said.

Shanti Lal Jain, Indian Bank’s Managing Director and Chief Executive Officer, said: “Indian Bank has a presence across the country and we are confident in our ability to offer Maruti Suzuki customers world-class services to fulfill their desire to own a car Car.”

Published on

April 27, 2022

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