Suzuki Motorcycle India Pvt Ltd (SMIPL) has signed a Memorandum of Understanding (MoU) with SMFG India Credit Co for vehicle finance, strengthening their collaborative efforts in this venture.
Suzuki Motorcycle India Pvt Ltd (SMIPL) has forged a strategic partnership with SMFG India Credit Co Ltd, formerly known as Fullerton India Credit Co, to facilitate financing for the purchase of its two-wheelers. The collaboration is formalized through a Memorandum of Understanding (MoU) between the two companies. SMFG India Credit is recognized as a Non-Banking Financial Company-Investment and Credit Company (NBFC-ICC) by the Reserve Bank of India and is a member of Sumitomo Mitsui Financial Group (SMFG).
Expressing the importance of this collaboration, SMIPL Managing Director Kenichi UMEDA highlighted the need to associate with financiers who can streamline the process of purchasing Suzuki two-wheelers. The objective is to provide customers with flexible and easy retail finance offers that align with their requirements. UMEDA emphasized that, considering their continuous growth in the Indian market, partnering with SMFG India Credit is a strategic move to enhance their ability to meet the evolving needs of their expanding customer base.
UMEDA expressed confidence in the engagement with SMFG India Credit as a crucial step in supporting their growth plans. The collaboration aims to strengthen SMIPL’s position in catering to the diverse needs of the Indian market, offering a seamless experience for customers seeking financing solutions for Suzuki two-wheelers.
Ajay Pareek, Chief Business Officer at SMFG India Credit Co Ltd, emphasized their role as a diversified NBFC, positioned to provide customers with a broad spectrum of tailor-made products beyond two-wheeler loans. This approach aims to assist customers in achieving their personal or business goals through a versatile range of financial offerings.
The partnership brings several benefits for SMIPL customers seeking retail financing options. They can now avail these services round-the-clock, along with advantages such as rapid vehicle loan sanction and a hassle-free documentation process. The collaboration reflects the commitment of both companies to enhance customer convenience and satisfaction through streamlined and efficient financing solutions.
In conclusion, the partnership between Suzuki Motorcycle India and SMFG India Credit is a strategic move to bolster financing options for Suzuki two-wheelers in the Indian market. By leveraging the expertise of SMFG India Credit as a diversified NBFC, the collaboration aims to provide customers with a range of tailored financial products while ensuring a seamless and convenient experience in securing vehicle financing.