Car buyers alert! Maruti Suzuki partners with its bank to provide attractive auto loans
Maruti Suzuki India Limited (MSIL) has signed a memorandum of understanding with private sector lender Karnataka Bank, based in Mangaluru, to introduce attractive financing options for customers to purchase their favorite car. Buyers can enjoy the benefits at 858 branches of Karnataka Bank in metropolitan, urban, semi-urban and rural areas.
As part of this collaboration, customers can benefit from loans of up to 85% of the road price of all new cars from the Maruti Suzuki ARENA and NEXA showrooms. Auto loans will bear an interest rate linked to the external benchmark rate. Customers can opt for a maximum term of 84 months for their loans.
Deploy the customer-friendly initiative; Shashank Srivastava, Executive Director (Marketing and Sales) at Maruti Suzuki India Limited, said: “This partnership aims to make the vehicle buying journey easy and affordable for our customers. Rapid technological development and new digital consumer behaviors are determining auto sales in India. In recent years, Maruti Suzuki has taken many initiatives in this direction, including the launch of the digital platform Smart Finance and innovative programs to help customers buy new cars at an attractive interest rate and an EMI. personalized according to their needs. During the 2020-2021 fiscal year, as part of the partnership with financial partners, we financed more than 9.7 Lakh vehicles. We are confident that the latest merger with Karnataka Bank will help meet the diverse financial needs of our clients. “
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Comment on the partnership; Mahabaleshwara MS, Managing Director and CEO of Karnataka Bank, said: “This partnership with Maruti Suzuki India will enhance the convenience and ease of consumers, while allowing them to enjoy the delicious experience of our product of owning class products. World of Maruti Suzuki. Karnataka Bank offers auto loans through our extensive network of digital branches with a locally developed end-to-end digital platform for existing and new customers, with faster processing capabilities. This partnership offers an unwavering commitment to providing best-in-class service to our customers as well as potential buyers of Maruti Suzuki vehicles.