Maruti Suzuki India Limited (MSIL) has signed a Memorandum of Understanding (MoU) with Mangaluru-headquartered private sector lender Karnataka Bank to introduce attractive finance options.
Customers can avail the benefits across 858 branches of Karnataka Bank at metro, urban, semi-urban and rural locations, said a press release issued by Maruti. .
Under this collaboration, customers can avail loans up to 85 pc of the on-road price of all new cars from Maruti Suzuki Arena and Nexa showrooms. The car loans will bear an interest rate linked to the external benchmark lending rate. Customers can opt for tenure of up to 84 months for their loans.
Mr. Shashank Srivastava, Executive Director (Marketing & Sales), Maruti Suzuki India Limited, said, “This partnership is aimed to make the vehicle buying journey easy and affordable for our customers.”
Mr. Mahabaleshwara MS, Managing Director & CEO, Karnataka Bank, said, “This partnership with Maruti Suzuki India will boost the consumers’ convenience and ease, at the same time they can have the delightful experience of our digital car loan product, to fulfil their aspirations of owning world-class products from Maruti Suzuki.”