Suzuki Two Wheelers partners with Paytm and HDFC for cashless transactions during demonetisation

Team OD Updated: November 25, 2016, 01:45 PM IST

Demonetisation may be good for our country in the long run, but currently the common man is feeling the heat standing in long queues outside the banks or ATMs. In order to help its customers during the cash crunch, Suzuki Motorcycle India Private Limited (SMIPL) has partnered with Paytm and HDFC Bank to offer cashless scheme on all its products.

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A customer can now book any Suzuki two-wheeler by paying an amount of Rs 20,000 through Paytm and financing the remaining amount. Upon vehicle delivery, the customers can also avail Rs 3,000 cashback from Paytm.

A subsidiary of Suzuki Motor Corporation, Japan, SMIPL is also providing 100 per cent finance for its two-wheelers to any government employee or HDFC Bank account holder.

The customers without any income proof or an account with HDFC Bank can avail a limited period 'low down payment scheme' with 90 per cent finance for any Suzuki two-wheeler product.

Commenting on the finance scheme, Satoshi Uchida, managing director, SMIPL, said, "We aim to limit the impact of demonetisation by providing our customers a convenient purchase alternative that is not dependent on availability of cash in hand."

After the demonetisation move, major auto players have come up with several schemes for alternative payment options. Renault, Nissan and Honda have also partnered with banks and e-wallets firms to offer cashless facilities and car loans.