Team siliconindia

• Maruti Suzuki signs MoU with ESAF Small Finance Bank to offer vehicle financing for new, used, and commercial vehicles.
• The collaboration aims to provide flexible finance options, especially for first-time car buyers in Tier 2 and Tier 3 cities.
• The alliance leverages the combined network of both entities to make vehicle ownership more accessible across semi-urban and rural areas.

Maruti Suzuki India Limited (MSIL) has signed a Memorandum of Understanding (MoU) with ESAF Small Finance Bank to provide enhanced retail financing solutions for new cars, used cars, and commercial vehicles. This strategic collaboration aims to deliver easy and flexible finance options, particularly tailored for first-time car buyers.

The partnership is set to leverage the expansive network of both Maruti Suzuki and ESAF Small Finance Bank, focusing on Tier 2 and Tier 3 cities. The alliance will help make vehicle ownership more convenient and affordable for a broader segment of customers, further boosting penetration in emerging markets.

The MoU was formalized in the presence of Mr. Partho Banerjee, Senior Executive Officer, Marketing & Sales, and Mr. Vishal Sharma, Vice President, Maruti Suzuki Finance & Driving School, alongside Mr. K. Paul Thomas, MD & CEO of ESAF Small Finance Bank, and other senior officials.

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Commenting on the collaboration, Mr. Partho Banerjee stated, “This strategic partnership with ESAF Small Finance Bank reinforces our commitment to making vehicle ownership more accessible, especially for first-time car buyers. Through this, we aim to enhance financing options and offer flexible repayment solutions, ensuring more Indian families can experience the joy of owning a Maruti Suzuki”.

The move highlights Maruti Suzuki’s customer-centric approach and its continued efforts to strengthen rural and semi-urban mobility.