Maruti Suzuki India Ltd (MSIL) has joined hands with Federal Bank to provide dealer finance and customised auto retail financing solutions to customers.
In August, MSIL had inducted Federal Bank as an approved partner for dealer inventory funding. The latest tie-up for retail financing to customers will further offer comprehensive loan access facilities to Maruti Suzuki dealers as well as customers. "Federal Bank's extensive presence pan India besides strong presence in Kerala and its neighbouring states will help us expand our customer base," said MSIL Executive Director Shashank Srivastava.
Shyam Srinivasan, Managing Director and CEO of Federal Bank, said the arrangement will help the lender offer an end-to-end solution for dealers and retail banking customers via the best-in-class technology-enabled platform.
"Our endeavour of seamless financing options will result in further strengthening market penetration for Maruti Suzuki and our dealer partners and buyers," he said in a statement.