Tuesday, June 9, 2020
Mahindra Finance Partners with Maruti Suzuki to Ease Financing for Customers During Ongoing COVID-19 Pandemic
Mahindra Finance has joined hands with Maruti Suzuki India (MSI) for vehicle loans. The companies have come together to ease the availability of finance for customers looking at personal mobility solutions during the ongoing COVID-19 pandemic.
As per the tie-up, customers can avail wide options for getting their car financed from Mahindra Finance. Customers will benefit from the range of offers like buy now and pay later, step up EMI and balloon EMI.
Speaking on this strategic alliance, Mr Ramesh Iyer, Managing Director, Mahindra Finance, said "We believe that demand in rural will revive the fastest on the backdrop of a good monsoon expectation and less impact of the current pandemic. We are geared up to support and service all customers in these markets. Maruti Suzuki has been a very close and important partner to us. We believe providing solution is more important than just offering credit. With our wide spread branch network serviced through employees recruited locally we will be able to become a solution provider instead of only a financier to these rural customers."
“More than one-third of Maruti Suzuki’s retail sales come from rural India. Mahindra Finance is a very well networked non-banking finance company (NBFC) across India and has the expertise in lending across all profiles including semi-rural, rural and no-income proof customers. We are extremely confident that this alliance with one of India’s largest NBFCs will help in increasing easy finance availability to our customers in the current challenging situation arisen due to COVID-19 pandemic " MSI Executive Director (Marketing and Sales) Shashank Srivastava said.
In the last five years, over six lakh Maruti Suzuki customers have financed their cars from Mahindra Finance. Maruti Suzuki has an extensive range of cars and wide-spread dealer network of over 3,086 showrooms across the country. Mahindra Finance too has a network of 1,450 branches and offers attractive finance schemes. This partnership would support all the customers segments - salaried, self-employed, agriculturists and businessmen to purchase cars.