IndusInd bank, a private sector lender, entered into a tie-up with Maruti Suzuki, India's largest auto manufacturer and leader of the small car segment, in India, for financing vehicles.
"As per the agreement, Maruti Suzuki India has nominated IndusInd Bank as its preferred financier for financing all Maruti vehicles. IndusInd Bank will offer financing facilities to all eligible customers for purchasing Maruti vehicles through its network of 180 branches spread over 147 geographical locations," IndusInd Bank said in a statement.
"This strategic alliance is part of our expansion strategy in the consumer finance segment. We see excellent synergy in this relationship for both organisations," said S V Parthasarathy, Executive Vice President (Consumer Finance Division), IndusInd Bank.
"We have the right products and a nationwide sales and services network to support this growth. We are confident that with partners like IndusInd Bank we will win customer confidence and achieve the objective of greater penetration," said R S Kalsi, Chief General Manager, Maruti Suzuki India.
This tie-up is expected to be beneficial for both the companies and its customers. Maruti has launched two new models in India namely Ritz and A-Star and it has also launched the new reloaded Maruti Suzuki Grand Vitara.