Maruti Suzuki, Federal Bank tie up for vehicle loan

The country's largest car maker Maruti Suzuki India (MSI) on Wednesday said it has partnered Federal Bank to provide dealer finance and customised automobile retail financing solutions to customers.

In August this year, MSIL had inducted Federal Bank as an approved partner for dealer inventory funding.

The latest tie-up for retail financing to customers will further offer comprehensive loan access facilities to Maruti Suzuki dealers as well as customers, the company said in a statement.

"Federal Bank's extensive presence pan-India will help us expand our customer base. Both Maruti Suzuki and Federal Bank are committed to deliver the best customer experience and create delight," MSI Executive Director (Marketing and Sales) Shashank Srivastava said.

Federal Bank MD and CEO Shyam Srinivasan said the arrangement will help the bank offer end-to-end solution for dealers and retail banking customers.

"Our endeavour of seamless financing options shall result in further strengthening market penetration for Maruti Suzuki and our dealer partners and buyers," he added.