New Delhi: Maruti Suzuki India Ltd on Wednesday tied up with Federal Bank to provide dealer finance and customized auto retail financing solutions to its customers.
The MoU was signed in the presence of Ajay Seth, Senior Executive Director and Chief Financial Officer (CFO) at Maruti Suzuki, and Shyam Srinivasan, Managing Director and Chief Executive Officer, Federal Bank, among other officials, the automobile major said in a statement.
In August 2019, Maruti Suzuki had inducted Federal Bank as an approved partner for dealer inventory funding. The latest tie-up for retail financing will further offer comprehensive loan access facilities to Maruti Suzuki dealers as well as customers, it said.
As per the company, benefits to the customers post the tie-up would include “higher loan to value, longer repayment tenure, competitive interest rates and faster processing.”