Maruti ties up with Indian Bank, will get car loan on easy terms

Maruti-Indian Bank agreement for car loan

Under the scheme, customers will get a loan up to 90 percent of the on-road price of the car. Along with this, they are also being offered zero processing fee, free accidental insurance cover of Rs 30 lakh, free FASTag and long term loan.

Maruti ,MarutiIt has now become even easier for the customers of ) to get a car loan. The company informed today that it has decided to give loans to its customers on easy terms with Indian Bank (Indian Bank).Indian Bank contracted with. According to Maruti, loans to car buyers through Indian Bank (Car Loan) But many types of offers are also being given. In which ranging from exemption on processing fees to long-term loans. With this partnership, Maruti has tied up with 37 institutions for retail financing. There are 12 public sector banks, 11 private banks, 7 NBFCs and 7 regional rural banks.

What will be the benefit of partnership

According to Maruti Suzuki, with the help of this partnership, the customers of the company will get loans on easy terms through 5700 branches of Indian Bank. Under the special scheme, customers will get a loan up to 90 percent of the on-road price of the car. Along with this, they are being offered zero processing fee. A free accidental insurance cover of Rs 30 lakh and free FASTag is also being given to the customer on taking a car loan through Indian Bank. Loans under the scheme are being offered for a period of 84 months, so that customers can also see a reduction in EMI. This scheme will be applicable till 30 June 2022. After the announcement of this partnership, Maruti’s ED Shashank Srivastava said that 80 percent of the cars in the country are purchased through car loans. And to help customers in this, Maruti has made many partnerships with banks and NBFCs. According to him, the tie-up with Indian Bank will go a long way in meeting the financing needs of customers. Maruti is the country’s largest car company, Maruti has retail outlets of more than 3357 new cars in 2156 cities and towns.

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Maruti sales up 2 percent in March

Maruti Suzuki India (MSI) registered a growth of two per cent in overall wholesale sales in March with 1,70,395 units sold. In March 2021, the company had sold 1,67,014 units. However, the number of vehicles provided by the company domestically declined by seven percent to 1,43,899 units from 1,55,417 units in March 2021. The company sold a total of 16,52,653 units in the last financial year 2021-22, a growth of 13 percent as compared to the financial year 2020-21. The total sales included domestic sales of 13,65,370 units, sales to other Original Equipment Manufacturers (OEMs) of 48,907 units and highest ever exports of 2,38,376 units.

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