Lohia Auto and IndusInd bank sign MOU for three-wheeler retail finance

by Autocar Pro News Desk , 26 May 2016

Lohia Auto Industries, the automobile division of Lohia Global, today announced IndusInd Bank as its preferred financier for financing their diesel three-wheelers. Through the partnership, IndusInd bank will offer retail finance and loan facilities at competitive interest rates to the customers of Lohia three-wheeler models.

The loan facility will be available in almost in every part of the country namely Madhya Pradesh, Haryana, Bihar, Jharkhand, Chattisgarh, Gujarat, Rajasthan, Odisha, AP, R&T and Coastal Andhra.

Commenting on the partnership, Ayush Lohia, MD & CEO, Lohia Auto Industries said, “A huge segment of customers will benefit from this alliance. This partnership will also help both the Lohia Auto and IndusInd Bank in increasing the number of customers, thus enabling widening of the market for the products.”

SV Parthasarathy, senior executive vice president & head - Consumer Finance Division, IndusInd Bank also commented, “This alliance is part of our strategy to continue to be a leading player in the field of three wheeler financing. We will offer retail finance at an attractive rate of interest to customers through our large branch network.”