Maruti Suzuki India Ltd Partners with Equitas Small Finance Bank
Leading car maker Maruti Suzuki India Ltd has partnered with private sector Equitas Small Finance Bank to offer vehicle financing options to its customers. A memorandum of understanding between the two entities was signed with an aim to provide retail financing options for new cars, used cars and commercial vehicles.
The partnership aims to improve the accessibility and cost-effectiveness of Maruti Suzuki vehicles for a wider array of customers. Equitas Small Finance Bank, based in Chennai, aims to utilize its expanding customer base to cater to various Maruti Suzuki customer profiles and provide them with a variety of complete financing options.
Partho Banerjee, Senior Executive Officer of Maruti Suzuki India Ltd, swapped documents with Jagadesh J, head of retail assets at Equitas Small Finance Bank, while representatives from both organizations were present.
"Our collaboration 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," Partho says.
"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,” adds Partho.
Maruti Suzuki was founded in the early 1980s with the vision of delivering the 'Joy of Mobility.' Starting modestly by producing roughly 20,000 cars annually, the Company has significantly expanded, reaching nearly 2 million cars manufactured each year in FY 2022-23.
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In the past forty years, the Company has catered to more than 27 million satisfied customers in India and nearly 100 countries globally. It preserved its leading position in the Indian market continuously—showing the Company's dedication to ensuring customer satisfaction and its ability to adjust to evolving circumstances.