Maruti Suzuki India Limited (MSIL) has signed a Memorandum of Understanding (MoU) with ESAF Small Finance Bank to offer comprehensive retail financing solutions for new cars, used cars, and commercial vehicles. This strategic partnership aims to provide easy and flexible financing options, particularly designed to support first-time car buyers.
By leveraging the extensive combined network of Maruti Suzuki and ESAF Small Finance Bank, especially across Tier 2 and Tier 3 cities, the collaboration seeks to make vehicle ownership more convenient and accessible to a broader customer base.
The MoU was signed in the presence of Mr. Partho Banerjee, Senior Executive Officer – Marketing & Sales, and Mr. Vishal Sharma, Vice President – Maruti Suzuki Finance & Driving School, from Maruti Suzuki India Limited, along with Mr. K. Paul Thomas, MD & CEO, and senior officials from ESAF Small Finance Bank.
Speaking on the partnership,Mr. Partho Banerjee, Senior Executive Officer, Marketing & Sales, Maruti Suzuki India Limited, said, “At Maruti Suzuki, we continuously strive to understand and address the evolving needs of our customers, particularly in providing accessible financing solutions. This strategic partnership with ESAF Small Finance Bank reinforces our commitment to make vehicle ownership more accessible, especially for first-time car buyers. Through this, we aim to further enhance financing options and flexible repayment solutions, ensuring that more Indian families can experience the joy of owning a Maruti Suzuki.”
Mr. K. Paul Thomas, MD & CEO, ESAF Small Finance Bank, stated, “We are delighted to partner with Maruti Suzuki India Limited in a collaboration that resonates deeply with our purpose-driven mission. At ESAF Small Finance Bank, we see finance as a means to empower lives and communities. This collaboration will help extend affordable and convenient mobility solutions to a wider customer base, particularly in underpenetrated regions. It is a step forward in our mission to promote inclusive development and sustainable progress for all.”
