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Muthoot Vehicle and Asset Finance Ltd (MVFL) has tied up with Maruti Suzuki India Ltd to provide vehicle finance for Maruti cars.
The finance scheme named Muthoot Maruti Gold to Car Scheme will give Maruti customers the freedom to get 100 per cent on road financing for their vehicles across Kerala. Vehicles would be funded by MVFL Ltd and the down payment for the vehicle will be financed by the NBFC Muthoot Finance on gold collateral.
This initiative and the product has been launched keeping in mind a large segment of the consumer base who cannot arrange for an immediate down payment for a vehicle purchase, Tarun Garg, Vice-President (Sales), Mauti Suzuki, said.
To start with, the scheme will be introduced in Kerala, the leading State in the country in terms of Maruti car sales and later to other markets subsequently, he added.
Speaking on the occasion, George Alexander Muthoot, Managing Director, Muthoot Group, described the scheme as a trend-setting product to help customers and the tie-up will benefit salaried customers, business profile customers, no income proof customer like agriculturists with the capability to repay the loan and NRIs with suitable guarantors.
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