Honda Siel Cars India, a joint venture between Japanese auto maker Honda Motor Co and Indian company Siel Ltd, on Tuesday said that the company has entered into a Memorandum of Understanding (MoU) with Bank of Baroda, a state sector lender, for financing of Honda vehicles.
"Bank of Baroda will offer car loans at very competitive rate of 10.5-11 per cent. This facility will be available at all the branches of Bank of Baroda and 103 facilities of Honda Siel Cars India," the bank said in a statement.
"We are glad to associate with Bank of Baroda to provide end to end car finance facilities to our customers. This service initiative is another step from Honda Siel Cars to strengthen our relationship with our customers," said T. Natsume, Honda Siel Cars India Director (Marketing).