Maruti Suzuki ties up with IndusInd Bank to offer a range of finance options for customers

Maruti Suzuki India Limited (MSIL) has collaborated with IndusInd Bank to arrange attractive finance schemes to help customers buy their favourite car. MSIL has been arranging consumer finance with finance partners to support progressive restart of business activities in the automobile industry.

Multiple options for Maruti Suzuki customers*

- Low EMI scheme (1st three months) starting at Rs. 899 per Lakh
- Step-up scheme, EMI starting with Rs. 1,800 per Lakh
- Balloon EMI scheme, final EMI 25% of loan amount
- Upto 100% on-road funding for customers with valid income proof
- Upto 100% ex-showroom funding for customers who does not have valid income proof
- Scheme is valid for all Maruti Suzuki models

For addressing personal mobility needs of the customers in the wake of the current COVID-19 pandemic scenario, IndusInd Bank has offered a variety of finance options including low EMI scheme, step-up and balloon payment options and funding 100% on-road price for the vehicles. IndusInd Bank has a wide portfolio that can be customised for needs of salaried, self-employed, agriculturists and businessmen.

Speaking about the customer-centric initiative Mr. Shashank Srivastava, Executive Director (Marketing & Sales), Maruti Suzuki India said, "IndusInd Bank is one of our leading finance partners. This collaboration is aimed at providing support to our customers who might be facing liquidity crunch in the prevalent COVID-19 scenario. These special structured schemes like low EMI scheme, balloon and step-up EMI schemes, will ease the pressure on immediate cash-flow of consumers. Also with the bank's expertise in lending to a variety of customers especially with no income proof, we are extremely confident of the collaboration bringing in convenience to both the rural and urban customers of MSIL."

Elaborating on the partnership, Mr. SV Parthasarathy, Head (Consumer Finance Division), IndusInd Bank, said, "At IndusInd Bank, we are delighted to team up with MSIL to roll out these curated offerings for customers who are keen on buying a car. With this partnership, we aim to fulfil the desires of customers of owing a car of their choice in the most seamless manner. This initiative is a testament to our unflinching commitment towards building flexibility in customizing solutions for our valued customers."

MSIL has wide range of cars and far-reaching dealer network of 3,086 showrooms across the country. IndusInd Bank has a network of more than 1,900 branches. This association would help facilitate the car buyers to avail easy and attractive finance schemes.

Shares of MARUTI SUZUKI INDIA LTD. was last trading in BSE at Rs.5498 as compared to the previous close of Rs. 5476.9. The total number of shares traded during the day was 45581 in over 9306 trades.

The stock hit an intraday high of Rs. 5609.95 and intraday low of 5397.85. The net turnover during the day was Rs. 251568149.

Shares of INDUSIND BANK LTD. was last trading in BSE at Rs.480.85 as compared to the previous close of Rs. 489.65. The total number of shares traded during the day was 2580984 in over 40148 trades.

The stock hit an intraday high of Rs. 514.75 and intraday low of 457. The net turnover during the day was Rs. 1255313945.

*Schemes are subject to the customer meeting IndusInd Bank's credit norms.

Source : Equity Bulls

Keywords