India’s largest carmaker Maruti Suzuki India (MSI) on Tuesday announced its partnership with Axis Bank to offer easy financing options for the potential car buyers. Axis Bank is one of the key partners of Maruti Suzuki for dealer inventory as well as retail financing solutions.
As a part of the tie-up, Axis Bank will offer attractive flexi EMI options to ease the liquidity and repayment stress of customers during these tough times. Axis Bank offers auto loans to a wide category of customer segments: salaried, self-employed and with or without income proof customers, the car manufacturer said in a press statement filed with exchanges.
Maruti Suzuki had earlier tied up with HDFC Bank, ICICI Bank and Bank of Baroda to offer financing options to car buyers.
“One of the impacts of COVID-19 pandemic has been a change in people’s behaviour when it comes to mobility. Concern over safety and maintaining social-distancing has uptick the preference for having a personal vehicle,” Shashank Srivastava, Executive Director (Marketing & Sales), Maruti Suzuki India was quoted in the release.
“We are confident that this association with Axis Bank will help our customers in offering a convenient, affordable and cost-effective finance solution for buying cars. With this tie-up our customers will have a wide array of easy finance options to choose from,” he added.
“The COVID-19 Pandemic has created a need for more creative and flexible financing options for Maruti Suzuki car buyers and our best-in-class financing solutions will provide the much-needed hassle-free experience of car buying and financing,” Pralay Mondal, Executive Director (Retail Banking), Axis Bank said in the statement.