Maruti Suzuki partners with Indian Bank for car loans


Maruti Suzuki India (MSI) said on Wednesday that it has partnered with Indian Bank to facilitate customer financing.

Under this partnership, corporate customers can avail loan benefits at more than 5,700 branches of Indian Bank across metropolitan, urban, semi-urban and rural areas.



Maruti Suzuki customers, under this exclusive program, can avail loans of up to 90% of the car’s on-road price in addition to enjoying zero processing fees, free accident insurance coverage for up to at Rs 30 lakh, a free fastag and a repayment term of up to 84 months on their loans. The program is open until June 30, 2022.

“Around 80% of retail sales in the automotive industry are through finance and to enable our customers to make car buying decisions, Maruti Suzuki has initiated several partnerships with banks and NBFCs in the public sectors We strongly believe that this partnership with Indian Bank will go a long way towards meeting the diverse financial needs of our customers,” Shashank Srivastva, MSI Senior Executive Director (Marketing & Sales), said in a statement.

The country’s largest automaker has an extensive network of 3,357 new car outlets in 2,156 cities and towns.

Through this partnership, Maruti Suzuki now has retail finance links with 37 financial institutions, including all 12 public sector banks, 11 private banks, 7 NBFCs and 7 regional rural banks.

Indian Bank has a wide presence across the country and we are confident to offer best in class services to Maruti Suzuki customers to fulfill their car ownership aspiration,” said Shanti Lal Jain, Managing Director and CEO of ‘Indian Bank.

The bank is committed to making the auto financing experience more convenient for the customer, and a variety of interest rate options will be offered to simplify the financing process, he added.

(Only the title and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear reader,

Business Standard has always endeavored to provide up-to-date information and commentary on developments that matter to you and that have wider political and economic implications for the country and the world. Your constant encouragement and feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these challenging times stemming from Covid-19, we remain committed to keeping you informed and up-to-date with credible news, authoritative opinions and incisive commentary on relevant topical issues.
However, we have a request.

As we battle the economic impact of the pandemic, we need your support even more so that we can continue to bring you more great content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of bringing you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism we are committed to.

Support quality journalism and subscribe to Business Standard.

digital editor

Comments are closed.