India’s largest passenger car maker Maruti Suzuki India has partnered with HDB Financial Services to facilitate easy financing for customers. HDBFS, a leading Non-Banking Financial Company (NBFC) is a subsidiary of HDFC Bank. HDBFS was incorporated in 2007 and has a strong network.
Maruti Suzuki India (MSIL) said that under this partnership HDBFS will provide loan facilities for both new and old cars. Now Maruti Suzuki has a retail finance tie-up with 26 banks, 8 Regional rural banks, and 7 non-banking financial companies for retail loans.
Shashank Srivastava, Maruti Suzuki India executive director (sales and marketing) said that partnering with HDBFS will provide attractive car loan schemes to customers. Maruti Suzuki has more than 3100 stores for the sale of new cars in 2000 cities and towns across the country.
While with 569 sales outlets at 280 locations, the company trades older cars under the TrueValue chain. The domestic auto industry has immense potential and attractive retail loans will help the market grow. HDBFS has more than 1500 branches in 1,050 cities in the country.
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Maruti Suzuki, India’s largest passenger car maker offers the convenience of buying a car along with other services including car accessories, finance, and insurance under one umbrella.