Maruti Suzuki India Limited (MSIL) has joined hands with Mahindra Finance to ease the finance availability for customers looking at personal mobility solutions during ongoing COVID-19 pandemic.
Under the tie-up, Maruti Suzuki customers can avail wide options for getting their car financed from Mahindra Finance including buy now and pay later, a Moratorium scheme of 2 months to help customers manage their cash flows, step-up EMI, Unique step-up option at a frequency of 6 months, balloon EMI, Customer has to pay 25% of the contract value as last EMI, agricultural customer schemes including quarterly EMIs and ow down payment scheme
Speaking on the partnership with Mahindra Finance, Mr Shashank Srivastava, Executive Director (M&S), Maruti Suzuki India said, “Mahindra Finance is a very well networked NBFC across India and has the expertise in lending across all profiles including semi-rural, rural and no-income proof customers. More than one-third of Maruti Suzuki’s retail sales come from rural India. 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. Customers will benefit from the range of offers like Buy now and Pay Later, Step Up EMI, Balloon EMI etc".
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 a solution is more important than just offering credit. With our widespread 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"
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