Honda Motorcycle and Scooter India ties-up with Assam Gramin Vikash Bank for 2Wheeler retail finance

• Honda’s latest Retail finance partnership to benefit 2 wheeler Customers
• Attractive features include Minimum processing fee, Daily reducing interest rate

Guwahati, January 30, 2014: Honda Motorcycle & Scooter India Pvt. Ltd. (HMSI), the 2nd largest 2Wheeler Company in India today announced its new retail finance tie-up with Assam Gramin Vikash Bank, the largest Regional Rural Bank in North East at a special ceremony in Guwahati. HMSI has already associated with Co-operative, Gramin & Non-Banking financial institutions in Punjab, Rajasthan, Uttar Pradesh & West Bengal for providing 2wheeler retail finance facility at state & PAN India level.

This announcement marks an important step towards making Honda’s 2Wheelers more easily accessible to its valued customers as Assam Gramin Vikash Bank is operational in all of Assam with it’s 388 branches which is sponsored by United bank of India.

With this partnership, customers across all towns/Village where the bank has its network can avail many attractive value-ads. These benefits include daily reducing interest rates, minimum processing fee and hassle free loan with nil documentation. Through this partnership, buyers can avail loan amount of upto 80% of Honda’s 2Wheeler.

On the partnership, Sri Shio Shankar Singh, Chairman, Assam Gramin Vikash Bank said “We are really happy to partner with Honda Motorcycle & Scooter India Pvt. Ltd. With our wide network we believe customers across Assam will immensely benefit and would be able to avail Honda’s extensive and world class product portfolio. 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 Honda two-wheeler.’’

Excerpts from the Company:

On this partnership, Mr. YS Guleria, Vice President, Sales & Marketing, HMSI said, “Honda is always working to offer its customers with best value products and services. Today we are privileged to partner with the largest Regional Rural Bank in North East, Assam Gramin Vikash Bank to make Two-Wheeler buying for its customers more accessible and convenient. We are sure that with the Bank’s wide network we will be able to reach out to more and more customers in Assam and provide them an opportunity to experience high quality Honda products.”

HMSI in North East:

Backed by the overwhelming trust of customers, Honda has consolidated its position as the ‘Fastest Growing 2Wheeler company in both North East and pan-India. While 2W industry in North East has grown at moderate pace of 15%, Honda has grown by an overwhelming 29% in April-December’2014 period (YoY basis).

About Assam Gramin Vikash Bank:

Assam Gramin Vikash Bank with Head office at Guwahati is an undertaking of the Central government, Assam government and United Bank of India and is the largest Regional Rural Bank in the North East Region. It has operations across Assam with 388 branches which will cross the number of 400 by 31st March 2014. The Bank has a customer base of over 55 Lac  with total business of Rs.9643.58 Cr. as on 31.12.2013 and provides all types of loans.