The Business Bytes
TBB BUREAU
NEW DELHI; JANUARY 19, 2024
Suzuki Motorcycle India Private Limited, the two-wheeler subsidiary of Suzuki Motor Corporation, Japan, on Friday formalized a strategic partnership by signing a Memorandum of Understanding (MoU) with SMFG India Credit Co. Ltd. (Formerly Fullerton India Credit Co. Ltd.) with the aim to offer personalized and hassle-free financing solutions for the purchase of Suzuki two-wheelers.
SMFG India Credit is a registered Non-Banking Financial Company (NBFC) specializing in Investment and Credit (NBFC-ICC) with the Reserve Bank of India, and it operates as a member of Sumitomo Mitsui Financial Group (SMFG).
Under this partnership, Suzuki Motorcycle India customers will gain access to retail financing options available round-the-clock, ensuring a seamless experience when purchasing their favourite Suzuki two-wheelers. The MoU further extends benefits to customers, including rapid vehicle loan approvals within minutes and simplified documentation procedures.
Expressing his views on the collaboration, Suzuki Motorcycle India Pvt. Ltd. Managing Director Kenichi Umeda said, “Considering our continuous growth in the Indian market, it becomes imperative for us to associate with financiers who can facilitate ease of purchasing Suzuki Two Wheelers. The idea is to offer flexible, yet easy retail finance offers, keeping in mind the needs of our customers. We are confident that our engagement with SMFG India Credit will be another step in enhancing our ability to cater to the needs of our growing customer base in India and thereby support our growth plans.”
As part of the collaboration, customers can expect faster approval processes with minimal documentation and competitive interest rates. Adding to the convenience, SMFG India Credit provides easy scheme options, digital login, 24×7 operational support, and pre-approved offers.
Expressing enthusiasm about the partnership SMFG India Credit Co. Ltd. Chief Business Officer Ajay Pareek said, “As the preferred financing partner of Suzuki Motorcycle India, one of the known brands in the Indian two-wheeler market, SMFG India Credit is committed to offering best-in-class finance solutions to their customers. This collaboration aligns perfectly with our mission of being the company of choice in the financial services space and a partner for progress. Being a diversified NBFC, we are well poised to provide customers with a wide range of tailor-made products beyond two-wheeler loans, helping them achieve their personal or business goals. Keeping this in mind, we are deeply focused on partnering with top OEMs across key sectors. We are thrilled to begin this partnership and look forward to jointly serving millions of customers across India.”
