Maruti Suzuki Partners with Equitas Small Finance Bank to Offer Wider Retail Car Financing Options

Maruti Suzuki India Limited (MSIL) has entered into a strategic partnership with Equitas Small Finance Bank through a Memorandum of Understanding (MoU) to strengthen its vehicle financing offerings. The collaboration is designed to enhance the accessibility of retail financing for customers interested in purchasing new cars, used vehicles, and commercial models.

By leveraging Equitas Small Finance Bank’s expanding customer reach, the partnership will facilitate tailored financing plans for a diverse range of buyers. Both companies aim to support customers with practical, competitive loan offerings suited to their needs.

The MoU was formalised in the presence of key executives, including Partho Banerjee, Senior Executive Officer – Marketing & Sales, and Vishal Sharma, Vice-President – Maruti Suzuki Finance & Driving School from MSIL, as well as Jagadesh J, Head – Retail Assets, from Equitas Small Finance Bank, along with other senior officials.

Banerjee said the tie-up will help Maruti Suzuki connect with a wider customer segment and simplify the car-buying experience through more accessible financing options. Jagadesh J noted that the partnership supports Equitas’ goal of offering affordable vehicle finance to underserved and aspiring customers.

Maruti Suzuki is one of India’s leading passenger vehicle manufacturers, with over 4,000 sales and 5,000 service outlets across the country. Its 18-model portfolio spans various price segments. The company operates manufacturing facilities with an annual capacity of 2.35 million units and a research and development centre in Rohtak.

Equitas Small Finance Bank is among the largest small finance banks in India. It offers banking solutions to individuals with limited access to formal credit, as well as to SMEs and corporate clients. The bank’s operations focus on providing need-based financial products and credit solutions to underserved market segments.