Coronavirus impact: Maruti Suzuki partners with Induslnd bank for customer-centric offers

Sumesh Soman Updated: June 17, 2020, 10:55 AM IST

Maruti Suzuki has joined hands with Induslnd bank to offer lucrative deals for its potential customers. This has been done to boost customer sentiment amid the Coronavirus pandemic as the auto sector has been facing a tough time with the lockdown along with BSVI transitions.

The virus outbreak will certainly push people to opt for personal means of transport and these attractive finance offers will certainly be of help for the customers and the company. The initiative includes low EMI scheme that allows the customer to pay only Rs 899 per lakh for the first three months, step-up scheme that has an EMI starting with Rs 1,800 per lakh, up to 100 per cent on-road funding for customers with valid income proof and 100 per cent funding for those who do not have a valid proof of income. These offers are valid for all models of Maruti Suzuki and there are other benefits as well, like these schemes can be customised for salaried, self-employed, agriculturists and businessmen.

Shashank Srivastava, executive director of marketing and sales at Maruti Suzuki India, said, "Induslnd Bank is one of our leading finance partners. This collaboration is aimed at providing support to our customers who might be facing liquidity crunch in the prevalent COVID-19 scenario. These special structured schemes like low EMI scheme, balloon and step-up EMI schemes, will ease the pressure on immediate cash flow of consumers. Also with the bank's expertise in lending to a variety of customers especially with no income proof, we are extremely confident of the collaboration bringing in convenience to both the rural and urban customers of MSIL."

The company earlier rolled out the 'Buy Now, Pay Later' offer along with other schemes partnering with HDFC  and Mahindra Finance. The company's motive is to provide potential buyers ownership of their vehicles quickly and without a burden.