Honda Motorcycles ties up with Muthoot Capital

Honda Motorcycle and Scooter India (HMSI) has tied up with Muthoot Capital Services (MCSL), a division of Muthoot Papachan Group, to offer instant need based financial services for its two wheeler customers.

The tie-up will enable HMSI penetrate the semi urban and rural markets, using the services of MCSL's retail outlets and manpower of every HMSI sub dealer point, a MCSL press release said.

HMSI has a strong dealer network in Kerala and Tamil Nadu, where the financing options will be available initially. The financing option will be offered to customers purchasing two wheelers at the authorised Honda retail outlets on an Equated Monthly Installments (EMI) under the innovative flexi repayment options, the release said.

Speaking on the occasion, R Manomohanan, chief executive officer of Muthoot Capital Services said the two-wheeler segment was picking up quite well, despite the market conditions. Muthoot is looking at having a decisive stake in this growing auto finance segment in this region.

The tie up will be initially established in Tamil Nadu and Kerala followed by Andhra Pradesh and Karnataka.