Maruti Suzuki Partners With IB To Offer Car Loans

New Delhi, April 27 : To facilitate easy financing for customers, Maruti Suzuki on Wednesday partnered with Indian Bank to provide customized and attractive car loans for customers. Maruti Suzuki customers can avail the loan benefits across 5700+ branches of Indian Bank at metro, urban, semi-urban and rural locations, a statement from the company said. Maruti Suzuki has a network of 3,357 new car retail outlets across 2,156 cities and towns. With this partnership, Maruti Suzuki now has retail finance tie-ups with 37 financial institutions including all 12 Public Sector Banks, 11 Private Banks, 7 NBFCs and 7 Regional Rural Banks. Maruti Suzuki customers, under this exclusive scheme, can avail loans upto 90% of the on-road price of the car besides getting benefits of zero processing charges, free accidental insurance cover upto Rs 30 lakh, free fastag and repayment tenure upto 84 months on their loans. The scheme is open till June 30, 2022. Shashank Srivastava, Senior Executive Director (Marketing and Sales), Maruti Suzuki India Limited, said, “Customer centricity and convenience are at the core of all our operations. With this partnership with Indian Bank, our valuable customers will be able to finance 90% of the on-road price of the car from over 5700+ branches across the Indian Bank network. This will help our customers get an attractive rate of interest and customized EMI options as per their requirements.” ”About 80% of retail sales in the automobile industry happen through financing and to enable our customer’s car-buying decisions, Maruti Suzuki has initiated several partnerships with banks and NBFCs across the public and private sectors. It is our firm belief that this partnership with Indian Bank will go a long way to cater to the diverse finance requirements of our customers,” he said.