Honda Motorcycle and Scooter India ties-up with India’s largest gramin bank Baroda Rajasthan Kshetriya Gramin Bank for 2Wheeler retail finance

• Honda’s latest Retail finance partnership to benefit over 50 lac Customers in Rajasthan
• Attractive features include Daily reducing interest, low EMI and more
• Minimum processing fee & No documentation charges
• Special 6 months installment scheme for farmers
• Cost savings of up to Rs. 1940 on taking finance from BRKGB

Delhi, December 17, 2013: Honda Motorcycle & Scooter India Pvt. Ltd. (HMSI), the 2nd largest 2Wheeler Company in India today announced its new retail finance tie-up with Baroda Rajasthan Kshetriya Gramin Bank at a special ceremony in Ajmer.

This announcement marks an important step towards making Honda’s 2Wheelers more easily accessible to its valued customers in Rajasthan as Baroda Rajasthan Kshetriya Gramin Bank is not only the Largest Gramin Bank in Rajasthan but also the 2nd largest bank in Rajasthan overall.

With this partnership, customers across all towns where the bank has its network can avail many attractive value-ads. These benefits include low down payment, low EMI and daily reducing interest. The retail finance scheme can be availed by people of 18-60 years of age. Through this partnership, buyers can avail loan amount of upto 75% of On-Road price of Honda’s 2Wheeler.

On the occasion, Dr. M. S. Phogat, Chairman, Baroda Rajasthan Kshetriya Gramin Bank said “We are happy to enter into this strategic tie-up with Honda Motorcycle & Scooter India Pvt. Ltd. I believe that customers can now enjoy more with our extensive reach across Rajasthan & Honda’s extensive product portfolio. With this, the potential of owning a 2Wheeler by people in Rajasthan will get a boost. It is our continuous effort to make convenient, the availability of finance to people and with Honda’s partnership we believe we will be able to help people in buying their choice of 2Wheeler. “

Excerpts from the company:

Talking on the partnership, Mr. Y.S. Guleria, Vice President, Sales & Marketing  HMSI said, “Till date, Honda has been offering retail finance options to its valued customers via tie-ups with private banks, NBFCs and nationalized banks. As the next step, we are now partnering with Co-operative Banks and Gramin Banks to make 2Wheeler buying through retail finance more accessible to customers even in rural & semi-urban areas. We are sure that with Baroda Rajasthan Kshetriya Gramin Bank’s wide network and easy finance solutions, we will be able to reach out to more and more customers in Rajasthan and provide them an opportunity to experience high quality yet affordable Honda products.”

HMSI in Rajasthan:

As a responsible Corporate, Honda has invested and contributed to overall economic and social development in Rajasthan. In July 2011, HMSI set up its second two-wheeler manufacturing plant in India in Tapukara, Dist. Alwar which today produces at peak annual capacity of 12 lac units. As the ‘Fastest Growing 2Wheeler Company not only in India but also in the state of Rajasthan’ – Honda grew an overwhelming 30% compared to average 2Wheeler industry growth of 5% in FY13-14 (YoY basis).  Honda meets the expectations of customers in Rajasthan with its 170 sales and service outlets and aims to aggressively expand its reach to serve its customer faster.

About Baroda Rajasthan Kshetriya Gramin Bank:

Baroda Rajasthan Kshetriya Gramin Bank is the largest Regional rural bank in Rajasthan. It has operations across 21 districts with 647 CBS branches. The Bank has an overall base of over 50 Lacs customers and gives all types of loans (Agricutural / Commercial).