Mercedes-Benz collaborates with SBI; reaches out to new set of HNI customers

India's largest luxury carmaker Mercedes-Benz in a first-of-its kind collaboration, has partnered with India's Largest Bank, State Bank of India, to offer attractive financial benefits, on owning a Mercedes-Benz. The collaboration will give Mercedes-Benz access to the unparalleled market penetration of SBI's HNI customer base, while the bank's customers will enjoy exclusive benefits while booking a marque luxury product like Mercedes-Benz.

The collaboration guarantees a host of financial benefits including an attractive rate of interest, additional benefits worth INR 25,000 exclusively for YONO customers who book a Mercedes-Benz vehicle through its Icon displayed on SBI's digital platform YONO.

Commenting on the partnership, Martin Schwenk, Managing Director & CEO, Mercedes-Benz India said, "Mercedes-Benz has been constantly exploring new avenues to reach out to potential customer base and this is the first time we are collaborating with any bank. The collaboration with SBI gives us an exciting opportunity
to expand our customer base and reach out to the potential HNI customers of the bank with our products and services. We are confident the customers of India's Largest Bank will be highly excited with the seamless online journey we have created through our e-commerce portal, and avail subsequent benefits from this collaboration."

C S Setty, Managing Director (Retail & Digital Banking), SBI said, "We are glad to be associated with Mercedes-Benz to offer a rewarding experience to our customers while owning their favourite Mercedes car. With attractive interest rates and customized benefits including a smart digital option of booking the Mercedes on YONO, we look forward to witness our HNI customers live through a unique journey of getting home the car synchronizing with their lifestyles. We at SBI are optimistic that our customers will make the most of this advantageous offering amid festive season."

This is first time State Bank of India and Mercedes-Benz is collaborating to give the customers unique experiences of both the brands' offerings. The State Bank of India auto loan team has geared up to cater to all the requirements to deliver best services to all Mercedes-Benz customers. The Customers will experience unique journey through
Online and Offline offering of Mercedes-Benz. Customers can book Mercedes-Benz car online through YONO Online Marketplace and get in-principle sanction of Car Loan, if eligible.

All customers booking a Mercedes-Benz car online through YONO will get additional benefit of INR 25,000 at Mercedes Benz dealership. Customers need to produce online booking confirmation and SBI loan sanction letter at the dealership to avail of the benefits.

The retail-marketing tie up with State Bank of India is a unique initiative to generate enquiries as well as provide online booking facility coupled with attractive benefits through the bank's extensive national penetration to reach potential customers. SBI and Mercedes-Benz will promote the partnership over online and offline channels, including across branches and dealerships in order to reach the maximum number of customers.