Honda partners with IndusInd Bank for two wheeler financing

Honda Motorcycle and a Scooter India (HMSI), the country's second-largest two wheeler player, has partnered with IndusInd Bank to offer retail finance to buyers.

Honda's customers can now not only buy a Honda two wheeler at an attractive rate of interest but can reap benefits of up to Rs 7,500 through this finance scheme, the company said in a statement.

IndusInd Bank will offer finance to eligible customers for purchasing Honda two wheelers through its network of over 1,000 branches across the country.

A customer can avail loan of up to 90% of the product value to be repaid in up to 36 months. Other benefits include waiver of processing fee and a quick loan approval within an hour. Indusind is a leading player in two wheeler financing and finances around 750,000 units a year.

The tie up will offer more convenience to buyers of Honda two wheelers. We have added sales network and launched new products last year. This tie up is another enabler to drive sales, said YS Guleria, senior vice-president (sales and marketing) at HMSI. 

HMSI sold record 4.48 million two wheelers in the year ended March 31, 2016. The company aims to sell over 5 million units in the current financial year.