Maruti Suzuki ties up with Mahindra Finance

Maruti Suzuki India Limited (MSIL) has joined hands with Mahindra Finance for customers during the ongoing COVID-19 pandemic.

MSIL said that customers can avail moratorium scheme of two months to help customers manage their cash flows, EMI step up option at frequency of six months, balloon EMI (customer has to pay 25 per cent of the contract value as last EMI), agricultural customer schemes including quarterly EMIs and low down payment scheme.

Shashank Srivastava, Executive Director (M&S), MSIL, said: “Mahindra Finance is a very well networked NBFC across India and has the expertise in lending across all profiles including semi-rural, rural and no-income proof customers. More than one-third of Maruti Suzuki’s retail sales come from rural India. We are extremely confident that this alliance with one of India’s largest NBFCs will help in increasing easy finance availability to our customers in the current challenging situation arisen due to the COVID-19 pandemic. Customers will benefit from the range of offers like Buy now and Pay Later, Step Up EMI, Balloon EMI etc.”

Ramesh Iyer, Managing Director, Mahindra Finance, said “We believe that demand in rural will revive the fastest on the backdrop of a good monsoon expectation and less impact of the current pandemic. We are geared up to support and service all customers in these markets. Maruti Suzuki has been a very close and important partner to us. We believe providing solution is more important than just offering credit. With our widespread branch network serviced through employees recruited locally we will be able to become a solution provider instead of only a financier to these rural customers.”