Maruti Suzuki join hands with IndusInd bank for finance schemes

India’s largest automaker, Maruti Suzuki India Limited (MSIL) informed the bourses that it has collaborated with IndusInd Bank in a bid to offer attractive finance schemes for its customers.

IndusInd Bank has offered a variety of finance options, including low EMI scheme, step-up and balloon payment options as well as funding 100 per cent on-road price for the vehicles. As of recently, the automaker has been arranging consumer finance with a number of finance partners in order to support the progressive restart of business activities in the automobile industry.

The industry has been hit hard in the wake of the current COVID-19 pandemic. The month of April 2020 has been disastrous with many companies reporting nil sales. This has led to several car manufacturers in the country, rolling out various schemes, to attract buyers.

Speaking about the customer-centric initiative Shashank Srivastava, Executive Director (Marketing & Sales), Maruti Suzuki India stated the bank’s expertise in lending to a variety of customers, especially with no income proof, would result in the collaboration bringing convenience to both the rural and urban customers of MSIL.

Maruti Suzuki's stock was trading at Rs 5,488, up by 0.20 per cent or Rs 11.10 per share, at 3 pm on Tuesday. The 52-week high is recorded at Rs 7,755 and the 52-week low is Rs 4,002 on BSE.