The country’s largest carmaker Maruti Suzuki India on Wednesday said it has partnered with Karnataka Bank to offer vehicle financing options for potential car buyers.
Customers can avail the benefits across 858 branches of Karnataka Bank at metro, urban, semi-urban and rural locations.
About deal
Under the collaboration, customers can avail loans up to 85 per cent of the on-road price of all new cars from Maruti Suzuki ARENA and NEXA showrooms.
The loans will bear an interest rate linked to the external benchmark lending rate.
There will be a provision to opt for car loans with up to 84 months of tenure.
Comment from Executive Director
Shashank Srivastava, “This partnership is aimed to make the vehicle buying journey easy and affordable for our customers. Rapid technological development and new digital consumer behaviours are determining auto sales across India.
In recent years, Maruti Suzuki has taken many initiatives in this direction, including the launch of digital Smart Finance platform and innovative schemes to help customers buy new cars at an attractive rate of interest and customized EMI as per their requirements.
In FY2020-21, under the tie-up with partner financiers, we have financed more than 9.7 Lakh vehicles.
We are confident that the latest tie-up with Karnataka Bank will help meet the diverse finance requirements of our customers.”
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