Honda Motorcycle & Scooter India Pvt Ltd signed a Memorandum of Understanding (MoU) for nationwide retail finance partnership with IDFC FIRST Bank Ltd, in order to strengthen its retail finance options for customers. Formalising the partnership at the MoU signing ceremony were Yadvinder Singh Guleria, Senior Vice President, Sales & Marketing, Honda Motorcycle & Scooter India Pvt Ltd and Pradeep Natarajan, Head, Retail – Assets, IDFC FIRST Bank Ltd, with other dignitaries.
Elaborating on this latest two-wheeler retail finance partnership Guleria said, “With increased cost of ownership, post insurance premium hike and new brake regulations in two-wheelers, more and more customers are availing finance to own their favourite two-wheeler. It is imperative to facilitate convenient and affordable purchase options for our customers. We believe that consumer shift towards finance will accelerate even more in coming years and our partnership with IDFC FIRST Bank Ltd as our new additional retail finance partner is truly a win-win situation for our valued customers.”
The new MoU with IDFC FIRST Bank gives Honda customers extra benefits like attractive interest rate, minimum down payment of Rs 999, loan up to 100 per cent of two-wheeler value, zero processing fee, extended repayment period of up to 48 months and low EMI scheme as per customer eligibility. This will result in extra savings of Rs 5,000 on an average loan with extra comfort and convenience.
“The alliance enables us to offer speedy and convenient financing solutions to a larger customer base across the country. It also strengthens our position as one of the leading players in two-wheeler financing. The association with Honda will bring about a synergistic benefit for both the organisations, enabling a superior customer experience in terms of product and processes,” expressed Natarajan.
IDFC FIRST Bank’s strong nationwide presence makes it easier for its over 70 lakh customers to ride home their Honda two-wheeler anywhere in India through its network of over 200 branches across the country.