Honda Motorcycle & Scooter India ties-up with Uttrakhand Gramin Bank for 2Wheeler retail finance
Dehradun, July 18, 2014
- Honda's latest Rural Retail finance partnership to benefit 2Wheeler customers
- Key features: Special reduced rate of interest for Honda customers, 80% Loan to Value, Tenure upto 36 months
- Loan upto Rs 1 Lac with minimum processing fee and easy documentation
Dehradun, July 18, 2014: Honda Motorcycle & Scooter India Pvt. Ltd. (HMSI), the 2nd largest 2Wheeler Company in India today announced its new retail finance tie-up with Uttrakhand Gramin Bank, at a special ceremony in Dehradun. Uttrakhand Gramin Bank has an extensive network of branches and provides special services like the Kissan Credit card, Women Credit card, NRI banking, Agriculture loan and Micro loan.
Honda in FY 13-14, associated with Co-operative, Gramin & Non-Banking financial institutions in Punjab, Rajasthan, Uttar Pradesh, Assam and West Bengal for providing 2wheeler retail finance facility to customers in India. Last year HMSI gained finance penetration by 5% which will further increase in current fiscal.
&With this association, HMSI is stepping closer to its valued customers in Uttrakhand by making Honda's 2Wheelers more easily accessible to Uttrakhand Gramin Bank's 20 lac customers.
With this partnership, customers across all towns/village where the bank has its network can avail many attractive value-ads. These benefits include Special reduced rate of interest, 80% LTV, No guarantor and Tenure upto 36 months with minimum processing fee and easy documentation. Through this partnership, buyers can avail loan amount of upto Rs 1 Lac.
On the partnership, Mr. Suraj Bhan Kaim, General Manager, Uttrakhand Gramin Bank said "We are really happy to partner with Honda in India. Due to Uttrakhand's mountainous terrain, 2Wheelers play an important role in transportation. It is our continuous endeavor to make our customers life convenient, with this partnership we are confident to be able to help people in buying their choice of Honda 2Wheeler and contribute in fulfilling their dreams.'
Excerpts from the Company: On this partnership, Mr. Y.S. Guleria, Vice President, Sales & Marketing, HMSI said, "At Honda, we relentlessly look at options to provide the best finance schemes to our customers and give them the 'Power of Choice'. With the expansion of our rural product portfolio, especially with Dream Series motorcycles, it is imperative for Honda to facilitate rural customers to make Honda a part of their life. Today we are privileged to partner with the 2nd largest Bank in Uttrakhand, Uttrakhand Gramin Bank to make 2Wheeler buying more accessible and convenient for its customers. We are sure now with attractive benefits and depth of our reach in the state, more customers will get an opportunity to experience high quality Honda products."
HMSI in Uttrakhand: As the 'Fastest Growing 2Wheeler Company in both Uttarakhand and pan-India' – Honda grew an overwhelming 34% compared to average 2Wheeler industry growth of 11% in first quarter of FY14-15 (YoY basis). Honda meets the expectations of customers in Uttarakhand with its 32 sales and service outlets and aims to aggressively expand its reach by adding 14 new outlets to serve its customer faster.
About Uttrakhand Gramin Bank: Uttrakhand Gramin Bank, sponsored by the State bank of India with 212 rural branches, operates in 13 districts of Uttarakhand with WHOLE NETWORK OF 260 branches, 11 satellite offices & 2 extension counters. The bank provides all types of loans & services which include Auto, Housing, Education and Personal loan with ATM and Internet banking facility. They also have special services like the Kissan Credit card, Women Credit card, NRI banking, Agriculture loan and Micro loan.
For further information, please contact:
Public Relations Department
Honda Motorcycle & Scooter India Pvt. Ltd
public.relations@honda2wheelersindia.com
