Maruti partners ICICI Bank to offer retail financing schemes to customers

New Delhi, May 26 () The country's largest carmaker Maruti Suzuki India (MSI) on Tuesday said it has joined hands with ICICI Bank to offer retail financing schemes to its customers.

As part of the tie up, ICICI Bank is offering flexi EMI scheme which enables customers to pay low EMI initially, in order to help them overcome the liquidity stress due to the COVID-19 pandemic, the automajor said in a statement.

The EMI amount starts from Rs 899 on a loan of Rs 1 lakh for first three months. The bank is also offering similar other EMI plans for MSI customers.

With Maruti Suzuki's over 3,000 outlets and ICICI Bank's extensive network of over 5,380 branches across India, the offer will definitely benefit the customers of all profiles who are willing to buy a car, it said.

"While fighting the prevailing COVID-19 crisis, we also need to help customers with attractive auto retail financial solutions," MSI Executive Director (M&S) Shashank Srivastava said.

Low down payment, low EMI products will definitely help aspiring customers to have their own personal mobility solution, he added.

"We believe the association with ICICI Bank for providing attractive and lucrative financing solutions will definitely benefit our customers," Srivastava said. MSS RVK