Maruti Suzuki collaborates with Equitas Small Finance Bank to expand retail car financing network

New Delhi: Maruti Suzuki India Limited (MSIL) announces the signing of an MoU (Memorandum of Understanding) with Equitas Small Finance Bank, one of the country’s largest small finance banks, to enter into a strategic vehicle financing partnership for customers. Aimed at providing retail financing solutions for new cars, used cars, and commercial vehicles, this collaboration is set to enhance the accessibility and affordability of Maruti Suzuki vehicles for a broader range of customers.

The collaboration with Equitas Small Finance Bank will leverage the growing customer base of the bank to benefit diverse Maruti Suzuki customer profiles and offer them a range of comprehensive financing solutions. The strategic partnership will also offer competitive financing offers that are tailored to provide greater customer benefits.

The MoU was signed in the presence of Mr. Partho Banerjee, Senior Executive Officer —Marketing & Sales, Mr. Vishal Sharma, Vice-President — Maruti Suzuki Finance & Driving School, from MSIL; from Equitas Small Finance Bank, Mr. Jagadesh J – Head Retail Assets and other senior officials from both organizations.

Commenting on this partnership, Mr. Partho Banerjee, Senior Executive Officer, Marketing & Sales, Maruti Suzuki India Limited, said “Our collaboration with Equitas Small Finance Bank will enable us to reach an even wider audience and offer them with competitive financing offers, to add to the joy of buying a new car. We are confident that this partnership will drive growth and customer satisfaction. We remain dedicated to providing a wide range of easy and hassle-free finance options for our esteemed customers. Our partnership with Equitas Small Finance Bank reinforces this vision, providing tailored and affordable financing options for our customers.”

Commenting on the Association, Mr. Jagadesh J, Head – Assets, Equitas Small Finance Bank Limited, said, "At Equitas, we are always focused on enabling customer's aspirations and this collaboration with Maruti Suzuki, a leader in the automotive industry, is a step towards serving our customers even better. This partnership aligns with our mission of 'Customer- First' and cater to their needs by providing them with accessible and affordable financing solutions, in purchasing their vehicle. We look forward to helping more individuals and families across the country to turn their dream of owning a Maruti Suzuki vehicle into reality.”

About Maruti Suzuki India Limited

Maruti Suzuki is India’s leading passenger car manufacturer with a vast network of 4000+ sales and 5000+ service outlets. An extensive product portfolio of 18 vehicles across different price ranges enables strong market presence, built on customer trust. Maruti Suzuki has an advanced Research and Development facility in Rohtak and multiple manufacturing facilities with production capacity of 23.5 lakh units per annum.

About Equitas Small Finance Bank Limited [ESFB]

Equitas Small Finance Bank is one of the largest small finance banks in India. As a new-age bank, they offer a bouquet of products and services tailored to meet the needs of their customers – individuals with limited access to formal financing channels, as well as affluent and mass-affluent, Small & Medium Enterprises (SMEs) and corporates. Their firmly entrenched strategy focuses on providing credit to the unbanked and underbanked micro and small entrepreneurs, developing products to address the growing aspirations at the ‘bottom of the pyramid’, fuelled by granular deposits and ‘value for money’.

Issued by:
PR & Communications,
Maruti Suzuki India Limited,
#1, Nelson Mandela Road, Vasant Kunj, New Delhi
Ph: 91-11-4678 1000
Email: corp.comm@maruti.co.in | X: @Maruti_Corp