Honda Motorcycle and Scooter India tie-up with Shivalik Mercantile Co-operative Bank for two wheeler retail finance
Saharanpur, October 08, 2013
| • Partnership to benefit 2wheeler Customers • Attractive features: Daily reducing interest rate and low EMI • Minimum processing fee & documentation charges |
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| Saharanpur, October 8, 2013: Honda Motorcycle & Scooter India Pvt. Ltd. (HMSI), the Only 2 Wheeler Company of Honda in India today announced partnership with Shivalik Mercantile Co-operative Bank to provide retail finance to the two wheeler customers in the state. Shivalik Mercantile Co-operative Bank gives loans on auto products like Tractors, Two Wheelers and Combine Harvester etc. |
| This partnership is expected to benefit and support customers across all towns where Bank has Network by making retail finance easily accessible with attractive benefits. The benefits include attractive features like low down payment, low EMI and daily reducing interest rate. The retail finance scheme can be availed by people of 21-60 years of age. Through this partnership, buyers can avail loan amount of upto 85% of the value of Honda two wheeler. HMSI has also very recently entered into a tie-up with Punjab State Co-operative Bank for retail finance scheme and currently in talks for more such tie-ups in other regions as well. |
| On the occasion, Mr Suveer Kumar Gupta, MD & CEO, Shivalik Mercantile Co-operative Bank said "With this strategic tie-up with world`s no.1 two wheeler brand Honda, we feel that the potential of owning a two wheeler by people in Region will really get a boost. It is our continuous effort to make convenient, the availability of finance to the people and with Honda`s partnership we believe we would be able to help people in buying their choice of two-wheeler. |
| Excerpts from the Company: Talking on the partnership, Mr. P. Rajagopi, Regional Head - Central, HMSI said, "Uttar Pradesh is overall no. 1 market in India and is also an important market for HMSI. To the People of Uttar Pradesh who have entrusted their faith and confidence in Honda, We are sure that with SMCB`s wide network and easy finance solutions, we would be able to reach out to more and more customers in Uttar Pradesh state and provide them an opportunity to experience high quality yet affordable Honda products." |
| HMSI in Uttar Pradesh: The 2Wheeler industry in Uttar Pradesh is rapidly growing and today contributes 53% to total 2Wheeler sales in Central India. As the `Fastest Growing 2Wheeler Company not only in India but also in the state of Uttar Pradesh` – Honda grew an overwhelming 40% compared to average 2Wheeler industry growth of 19% in FY12-13 (YoY basis). Honda meets the expectations of customers in Uttar Pradesh with its 217 sales and service outlets and aims to aggressively expand its reach to serve its customer faster. |
| About Shivalik Mercantile Co-operative Bank: Shivalik Mercantile Co-operative Bank is one of the largest public sector co-operative bank in Uttar Pradesh and has over 60,000 customers with 21 branches whereas HMSI has 217 touch points across the state. |
| For further information, please contact: Ms.Vibhuti Dimri / Ms. Namrata Pant (Honda Motorcycle & Scooter India Pvt. Ltd.) E-mail: vibhuti.dimri@honda2wheelersindia.com , namrata.pant@honda2wheelersindia.com |
