Maruti Suzuki partners with Karnataka Bank for auto loans

Maruti Suzuki partners with Karnataka Bank for auto loans

We have some interesting news, especially for people who are planning to buy a Maruti Suzuki car in India anytime soon. The automaker said it has signed a memorandum of understanding with Karnataka Bank, a private sector lender based in Mangaluru, to offer attractive auto finance options. As part of the merger, people purchasing a Maruti Suzuki car will be able to benefit from this auto loan offer at 858 Karnataka Bank branches across India.

Shashank Srivastava, Executive Director (Marketing & Sales), Maruti Suzuki India Limited, said, “This partnership aims to make the vehicle buying journey easy and affordable for our customers. Rapid technological development and new digital consumer behaviors are driving car sales in India. In recent years, Maruti Suzuki has taken many initiatives in this direction, including launching a digital Smart Finance platform and innovative programs to help customers buy new cars at attractive interest rates and personalized EMI according to their needs. , as part of the merger with financial partners, we have financed more than 9.7 Lakh vehicles. We are confident that the latest merger with Karnataka Bank will help meet the diverse financing needs of our clients.

Car loan offer Maruti Suzuki and Karnataka Bank

Now let’s take a close look at some of the key details of the new auto finance offering:

  • Customers will be able to benefit from auto loans up to 85% of the price on the road
  • Offers are applicable on all new Maruti Suzuki cars, i.e. those sold through the ARENA and NEXA car showrooms
  • The auto loan offer includes an interest rate linked to the external reference lender rate
  • Customers opting for this car loan offer will be able to choose terms of up to 84 months

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