Money & Banking

Mercedes-Benz India, SBI in a retail marketing pact

Our Bureau Chennai | Updated on November 24, 2020 Published on November 24, 2020

In a first-of-its kind collaboration, the country’s top luxury car maker Mercedes-Benz India has entered into a retail marketing tie-up with State Bank of India (SBI), to access latter’s HNI (high net-worth individual) customer base for selling its premium cars.

Mercedes-Benz’s collaboration with the SBI is a unique initiative to generate enquiries as well as provide online booking facility coupled with attractive benefits through the bank’s extensive national penetration to reach potential customers.

SBI and Mercedes-Benz will promote the partnership over online and offline channels, including across branches and dealerships in order to reach the maximum number of customers. SBI’s HNI customers in all 17 circles pan India, will have access to the collaboration with Mercedes-Benz.

“The collaboration with SBI gives us an exciting opportunity to expand our customer base and reach out to the potential HNI customers of the bank with our products and services. We are confident the customers of India’s largest bank will be highly excited with the seamless online journey we have created through our e-commerce portal, and avail subsequent benefits from this collaboration,” said Martin Schwenk, Managing Director & CEO, Mercedes-Benz India.

SBI’s HNI customers can avail online and offline benefits from the bank during the purchase of a Mercedes-Benz vehicle. The bank will offer attractive interest rate for a loan of tenure 2-5 years and benefits on the processing fees, according to a statement.

“With attractive interest rates and customised benefits including a smart digital option of booking the Mercedes on YONO, we look forward to witness our HNI customers live through a unique journey of getting home the car synchronising with their lifestyles,” said CS Setty, Managing Director (Retail & Digital Banking), SBI.

All customers booking a Mercedes-Benz car online through YONO will get additional benefit of ₹25,000 at Mercedes Benz dealership. Customers need to produce online booking confirmation and SBI loan sanction letter at the dealership to avail of the benefits.

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Published on November 24, 2020
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