Maruti Suzuki Partners With ESAF Small Finance Bank For Vehicle Finance

Maruti Suzuki India Ltd on Monday said it has partnered with ESAF Small Finance Bank to offer retail financing solutions for new cars, used cars, and commercial vehicles.

The two partners have signed a Memorandum of Understanding for the purpose, which will focus on offering easy and flexible finance options tailored especially for first-time buyers, the company said in a statement.

The partnership will leverage the combined network of Maruti Suzuki and ESAF Small Finance Bank across Tier II and Tier III cities to make vehicle ownership more accessible and convenient for a wider segment of customers, it added.

"Through this (partnership), we aim to further enhance financing options and flexible repayment solutions...," Maruti Suzuki India Senior Executive Officer, Marketing & Sales, Partho Banerjee said.

ESAF Small Finance Bank MD & CEO K Paul Thomas said, "This collaboration will help extend affordable and convenient mobility solutions to a wider customer base, particularly in under-penetrated regions. It is a step forward in our mission to promote inclusive development and sustainable progress for all."