HMSI Partners With IDFC FIRST Bank To Offer Financing Solutions

Honda Motorcycle & Scooter India (HMSI) on Tuesday said it has partnered with IDFC FIRST Bank to provide financing solutions across the country.

The two partners have signed a memorandum of understanding (MoU) under which facilities like loans up to 100 per cent of vehicle cost, zero processing fee, down payment of ₹999, and extended loan tenure of 48 months, among others will be offered to the two-wheeler maker’s customers, HMSI said in a statement.

Commenting on the development, HMSI Senior Vice President, Sales & Marketing Yadvinder Singh Guleria said 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 two-wheelers.

“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,” he added.

IDFC FIRST Bank Head Retail-Assets Pradeep Natarajan said the alliance enables the bank to offer speedy and convenient financing solutions to a larger customer base across the country.

“It also strengthens our position as one of the leading players in two-wheeler financing. The association with Honda will bring about a synergistic benefit for both the organizations,” he added.