To stimulate the domestic growth Honda Motorcycles and Scooter India Pvt. Ltd. has signed a national retail finance MoU with the IndusInd Bank, through which the customers of the Honda two wheelers will be able to avail finance at an attractive rate of interest on all the Honda two wheeler models.
According to this MoU, Honda customers will be able to avail benefits of up to Rs. 7500 on the two wheeler loan amount of Rs. 60000. The benefits also include availing loan of up to 90% of the model price, with a repayment span of 36 months. The other benefits include zero processing fee and quick loan approval within one hour. The IndusInd Bank financing facility will be available for all eligible Honda two wheeler customers in the bank’s 1000 branches across the country.
In the Indian two wheeler industry retail finance is increasing rapidly, and more customers are looking for the finance options. Senior Vice President, Sales and Marketing, HMSI Mr. Y. S. Guleria believes, with the inclusion of IndusInd Bank retail financing for the Honda two wheelers models the company will be able to ride on an aggressive expansion strategy.
He also mentioned that the company will be creating options for the interested customers to buy their favourite two wheelers in future as well. Senior EVP, Head Consumer Finance Division, IndusInd Bank, Mr. S. V. Parthasarathy said, the bank’s alliance with Honda Motorcycles is a part of IndusInd Bank’s strategy to remain the leading organization in the field of two wheeler financing.
Honda Motorcycles and Scooter India Pvt. Ltd. is one of the major two wheeler makers in Indian market, which sells around 20 models including both motorcycles and scooters. No wonder, its alliance with IndusInd Bank will stimulate the growth for the company in a market, where demand for two wheelers is skyrocketing every year, and demand for financing is also very high.
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