Maruti Suzuki has announced partnerships with IndusInd Bank and Karur Vysya Bank to offer consumers more flexible financing schemes to own a new car. Under its partnership with Karur Vysya Bank, Maruti Suzuki customers can avail multiple finance schemes and longer repayment loan terms to own a new car, and access the schemes at Maruti Suzuki’s network of 3,086 retail outlets across 1,964 cities and towns along with 780 branches of Karur Vysya Bank across 22 states. Maruti Suzuki has also collaborated with IndusInd Bank to arrange finance schemes to help customers buy a new Maruti car. MSIL has been arranging consumer finance with partners to support the restart of business activities in the automobile industry.
IndusInd Bank is offering 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 portfolio can also be customised as per the requirements of salaried, self-employed, agriculturists or businessmen. IndusInd Bank also clarifies that the schemes are subject to the customer meeting IndusInd Bank’s credit norms.
Karur Vysya Bank has introduced a special scheme for Maruti Suzuki customers which includes 100% on-road funding with a six-month holiday period (except Maruti Eeco). There will be loans for both salaried and self-employed customers with a repayment period of up to 84 months. Karur Vysya Bank will also make the product available for non-income proof customers also.
IndusInd Bank is one of our leading finance partners. This collaboration is aimed at providing support to our customers who might be facing a 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 the immediate cash-flow of consumers, Shashank Srivastava, Executive Director (Marketing & Sales), Maruti Suzuki India, said.
“Maruti Suzuki’s association with Karur Vysya Bank is another positive step towards providing our customers with financial flexibility and ease of owning a new car. In light of the current situation of fighting COVID 19 pandemic challenges, attractive products like EMI holiday period will provide the required financial solution to the customers.”
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