Nissan, SBI tie up for vehicle finance in India, no processing charges

Nissan Motor India has announced its strategic partnership with the State Bank of India (SBI) to offer its customers easy vehicle finance options across over 15,000 branches in India. With the biggest retail financing network across India, SBI will enable Nissan to reach out to its prospective customers in the farthest corners of the country.

As per the agreement, Nissan customers can avail of vehicle loans from the leading public sector bank to purchase Nissan products at a competitive rate of interest.

Announcing the partnership Arun Malhotra, managing director, Nissan Motor India, said, “Nissan has made a strong commitment in India with an objective to make our products more accessible to Indian customers. Our partnership with SBI, which has the widest retail financing reach in India, will strongly support us in this commitment. Our customers will benefit from the growing portfolio of product from Nissan and Datsun brands and now can avail flexible finance options to suit all budgets. Nissan has one of the fastest expanding dealer networks today and our partnership with SBI will further enhance our accessibility.”

SBI’s Ms Anuradha Rao said, “We are delighted to partner with Nissan in India. As per our agreement, Nissan customers will have access to our most attractive car loan schemes to purchase Nissan vehicles and this is available across our 15,000 plus branches across India. SBI will offer the longest repayment tenure of seven years to Nissan vehicles. The loans will be offered as term loan or as overdraft.  Currently, the loan is available with interest rates of 10.40 per annum for women and 10.45 per annum for men with a full waiver of processing charges.”