Maruti Suzuki India Ltd (MSIL) on Wednesday partnered with non-banking financial company HDB Financial Services (HDBFS) to provide customised car loans for customers.
The MoU was signed in the presence of Shashank Srivastava, Executive Director for Marketing and Sales at MSIL, and G Ramesh, Managing Director and CEO of HDBFS. The tie-up will facilitate loans for both new and used cars. Maruti Suzuki has a network of 3,066 new car retail outlets across 1,953 cities and towns.
It also has 569 outlets of pre-owned car retail channel True Value in over 280 locations. With this MoU in place, Maruti Suzuki now has a retail finance tie-up with 26 banks, seven non-banking financial companies and eight regional rural banks.
HDB Financial Services is a subsidiary company of HDFC Bank. It has a network of over 1,425 branches in 1,038 towns and cities.