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Honda 2Wheelers Signs MoU with IDFC FIRST Bank for Retail Finance

Honda 2Wheelers Signs MoU with IDFC FIRST Bank for Retail Finance

Snapshot: Honda's partnership with IDFC FIRST Bank will benefit the customers in many ways like zero processing fee, loan approval in 1 hour and attractive interest rate.

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Honda Motorcycle & Scooter India Pvt. Ltd. has announced partnership with IDFC FIRST Bank for retail finance solutions in the country. The company has signed a Memorandum of Understanding (MoU) with the bank to provide extra benefits to Honda customers. The dignitaries present at the MoU signing ceremony were Mr. Yadvinder Singh Guleria (Senior Vice President – Sales & Marketing, Honda Motorcycle & Scooter India Pvt. Ltd.) and Mr. Pradeep Natarajan (Head Retail - Assets, IDFC FIRST Bank Ltd.) with other senior officials.

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Honda customers can now avail several extra benefits in form of attractive interest rate, minimum down payment of Rs 999, loan up to 100 percent of two-wheeler value, zero processing fee, extended repayment period of up to 48 months and low EMI scheme as per customer eligibility. The loan approval will be the quickest in just 1 hour. The customer can save upto Rs 5,000 because of full waiver of 2 percent processing fee for Honda customers and rate of interest being significant 2 percent points less than industry average. The new Memorandum of Understanding (MoU) with IDFC FIRST Bank Ltd. comes into effect from MAy 14, 2019 for all the models present in Honda portfolio.\

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Speaking on this latest two-wheeler retail finance partnership Mr. Yadvinder Singh Guleria, Senior Vice President, Sales & Marketing, Honda Motorcycle & Scooter India Pvt. Ltd. said that with increased cost of ownership, post insurance premium hike and new brake regulations in two-wheelers, more and more customers are availing finance to own their favorite two-wheeler. It is imperative to facilitate convenient and affordable purchase options for our customers. We believe that consumer shift towards finance will accelerate even more in coming year and our partnership with IDFC FIRST Bank Ltd. as our new additional retail finance partner is truly a win-win situation for our valued customers.

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