HMSI drives rural push, inks tie-up with Punjab National Bank

Honda Motorcycle & Scooter India (HMSI) has signed a Memorandum of Understanding with with the Punjab National Bank to provide attractive retail finance to Honda's two-wheeler customers across India.
Present at the MoU signing ceremony were S S Bhatia, GM – Retail Assets Division, and Yadvinder S Guleria, VP (Sales & Marketing), HMSI. The tie-up enables potential buyers to buy a Honda two-wheeler at 12.25 percent with the loan amount up to 90 percent of the two-wheeler’s value. There is also an extended repayment tenure of up to 5 years.

Elaborating on this partnership, HMSI’s Y S Guleria said: "This alliance is first of its kind in the two-wheeler industry – both for Honda and PNB. Propelled by this partnership with Punjab National Bank, we aim to grow Honda's retail finance significantly in coming months."