New Delhi, Oct 1: Honda Siel Cars India, leading manufacturer of premium cars in India, today announced the Channel Finance Programme in partnership with State Bank India (SBI), India’s largest bank. With this arrangement, SBI has become one of the preferred channel financiers of Honda Siel Cars India (HSCI).
Under an agreement signed between HSCI and SBI earlier this month, SBI has approved a line of credit for financing the dealers of HSCI under electronic Dealer Finance Scheme (e-DFS).
HSCI and SBI already have a retail finance agreement, under which SBI provides automobile loans to Honda customers at competitive rates.
SBI has stepped up loan disbursal in the auto sector and is looking to corner a significant market share in the near term by leveraging its vast network of branches spanning across India.
Commenting on the Channel Finance Programme under the electronic Dealer Finance, Mr. Manas Kumar Nag, Chief General Manager, SME BU, Corporate Center, Mumbai said " This agreement will further give us the opportunity to provide our customers more value added services at competitive rates and expose them to our various offerings. This partnership with Honda Siel Cars India will benefit Honda dealers as well as the retail auto loan customers.”
Speaking on the occasion, Mr. Tatsuya Natsume, Director Marketing, Honda Siel Cars India, said, “With this tie-up Honda and SBI have agreed to pool their resources together to make accessible organized finance at competitive rates to our dealers and customers across the country for purchase of Honda cars.”
With a large customer base of more than 4 lakh customers, HSCI has a strong sales and distribution network spread across the country. The dealership network includes 119 facilities in 71 cities.
hondacarindia.com
Under an agreement signed between HSCI and SBI earlier this month, SBI has approved a line of credit for financing the dealers of HSCI under electronic Dealer Finance Scheme (e-DFS).
HSCI and SBI already have a retail finance agreement, under which SBI provides automobile loans to Honda customers at competitive rates.
SBI has stepped up loan disbursal in the auto sector and is looking to corner a significant market share in the near term by leveraging its vast network of branches spanning across India.
Commenting on the Channel Finance Programme under the electronic Dealer Finance, Mr. Manas Kumar Nag, Chief General Manager, SME BU, Corporate Center, Mumbai said " This agreement will further give us the opportunity to provide our customers more value added services at competitive rates and expose them to our various offerings. This partnership with Honda Siel Cars India will benefit Honda dealers as well as the retail auto loan customers.”
Speaking on the occasion, Mr. Tatsuya Natsume, Director Marketing, Honda Siel Cars India, said, “With this tie-up Honda and SBI have agreed to pool their resources together to make accessible organized finance at competitive rates to our dealers and customers across the country for purchase of Honda cars.”
With a large customer base of more than 4 lakh customers, HSCI has a strong sales and distribution network spread across the country. The dealership network includes 119 facilities in 71 cities.
hondacarindia.com
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