Honda Cars India partners with Bank of Maharashtra to offer attractive financing schemes this festive season

October 26, 2021 New Delhi

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New Delhi, 26 October 2021: In an endeavor to provide a fillip to the festive buying spirit, Honda Cars India Ltd. (HCIL), leading manufacturer of premium cars in India, has partnered with Bank of Maharashtra to introduce attractive and affordable finance schemes for its customers. The partnership will help Honda customers avail exciting car finance schemes with low Rate of Interest and Hassle free quick sanction of loans on purchase of new Honda Amaze, Honda Jazz, Honda WR-V and Honda City.

With this tie-up, customers from diverse income groups like Salaried employees, Self Employed, Professional, Businessmen or Agriculturists will benefit from the Bank of Maharashtra’s signature product “Maha Super Car Loan”. The major benefits include finance upto 90% of the cost of the vehicle, Low rate of Interest (ROI) starting from 7.05% (linked to RLLR), hassle free sanction with turn-around-time of 48 Hours, Concession on ROI for Corporate Salary Account Holder and Existing Housing Loan borrower, NIL Processing Fee (till 31st December, 2021), no pre/ part payment charges etc. Car loans upto 80% of the cost of the vehicle will also be available for companies registered as corporate clients.

Commenting on this partnership, Mr. Rajesh Goel, Senior Vice President & Director -Marketing & Sales, Honda Cars India Limited, said, “This tie-up with the Bank of Maharashtra will strengthen our efforts to offer affordable and accessible personal mobility solutions to a diverse set of valued customers. With a wide network of Bank of Maharashtra and Honda’s advanced technology product range, this partnership will mutually benefit each other and result into deeper penetration of the market. Customers can take benefit of lower rate of Interest and hassle-free experience of car finance to purchase their much-awaited dream car this festive season.”

Speaking on this association, Shri. A.S Rajeev, Managing Director & CEO of Bank of Maharashtra said, “This is really great to be associated with Honda Cars India, a leading car maker. Our customers will be immensely benefited as we offer hassle-free Car loans with Zero processing charges at a lucrative pricing. This is going to add fillip to our customer satisfaction and bring cheer during the festive seasons.”

Mr. Hemant Tamta, Executive Director, Bank of Maharashtra said, “Partnering with Honda group is something really exhilarating on our part. Being one of India’s leading car makers for mass as well as class, this will open a big opportunity to add to our customer’s delight. Bank of Maharashtra’s Car Loan is one of the finest product in the offering at most competitive pricing and Zero Processing charges which will serve as the icing on the cake.”

With a focus on semi-urban and rural regions besides urban markets, HCIL has been making efforts to make buying during this festive season more attractive and rewarding for its customers. HCIL has recently partnered with multiple financiers such as PSU Banks, Retail Financiers, and NBFCs to enhance car buying experience for its customers.