During this time of financial depression, Maruti Suzuki and Bank of Baroda (BoB) join hands with each other. The partnership is signed aimed at providing easy finance to Maruti cars buyers and simultaneously increasing the car loan portfolio of the bank.
This joint venture is not just a significant move for the car manufacturer and the bank but also for car buyers. Whenever any buyer will approach a dealer of the company, the salesman will spell cost advantage of taking loans from BoB, which will also act as a brand promotion for the bank.
Talking about the car buyers, the dealers will make them apply for a car loan in the nearest BoB branch, and the bank will approve the loan within 48 hours. So, this will benefit the customers as they’ll be able to manage finance easily during this time of credit crunch.
The car loan facility will be available across 600 Maruti car dealers and about 2,800 BoB branches. At present, the bank gives car loan at an interest rate of 11.25% that is considered to be lower compared to what the other banks and finance companies offer.
A supportive bank coupled with reliable and dependable Maruti Suzuki cars is worth giving a thought.