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 — Muthoot Maruti Gold to Car Scheme (MMG) — will give customers the freedom to get 100 per cent on road financing for their vehicles across Kerala.
The vehicle would be funded by MVFL Ltd and the down-payment financed by Muthoot Finance on gold collateral.
This initiative has been launched keeping in mind a large segment of the consumer base who cannot arrange for an immediate down-payment for vehicle purchase, Tarun Garg, Vice-President (Sales), Maruti Suzuki, said.
To start with, the scheme will be introduced in Kerala, and subsequently to other markets, he said.
Speaking on the occasion, George Alexander Muthoot, Managing Director, Muthoot Group, described the scheme as a trendsetting product for customers.
He said it will benefit salaried customers, business profile customers, agriculturists with the capability to repay the loan, and NRIs with suitable guarantors.