IndusInd ties up with Honda 2-Wheelers, to provide loans at attractive rates

The loan will be provided up to 90 per cent of the vehicle's value with a repayment option of 36 months.

By:May 19, 2016 2:39 PM
Honda IndusInd MoUAs per MoU, Honda customers will get benefits up to Rs 7,500 besides attractive rate of interest

Honda Motorcycle & Scooter India Pvt Ltd, yesterday, signed a Memorandum of Understanding (MoU) with IndusInd Bank to offer retail finance to its customers at an attractive interest rate on all Honda two wheelers.

Yadvinder Singh Guleria ( Senior Vice President – Sales & Marketing, Honda Motorcycle & Scooter India Pvt Ltd ) and S.V. Parthasarathy (Senior Executive Vice President & Head – Consumer Finance Division, IndusInd Bank Ltd.) along with other dignitaries) were present at the MoU signing ceremony

Yadvinder Singh Guleria, Senior Vice President, Sales & Marketing, Honda Motorcycle & Scooter India Pvt. Ltd. said, “In 2wheeler industry, retail finance penetration is increasing and more & more customers are looking at various finance options. Riding on the aggressive network expansion plan & increased product portfolio, we will continue to create options that will enable customers to buy their favorite 2wheeler. Driven by this partnership with IndusInd Bank, we aim to further grow Honda’s retail sales.”

As per MoU, Honda customers will get benefits up to Rs 7,500 besides attractive rate of interest. The loan will be provided up to 90 per cent of the vehicle’s value with a repayment option of 36 months. Other benefits include zero processing fee and quick loan approval in just 1 hour through IndusInd Bank’s tab based technology used for field inspection and proposal login. The loan will be offered through the bank’s network of over 1000 branches spread across India.

S.V. Parthasarathy, Senior Executive Vice President & Head – Consumer Finance Division, IndusInd Bank Ltd. said, “This alliance is a part of our strategy to remain a leading player in the field of two-wheeler financing. This association will bring about a synergistic benefit for both the organizations, enabling world class customer experience in terms of product and processes.”

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