Canara Bank and passenger car maker Maruti Suzuki India Ltd have entered into a tie-up arrangement, under which the Bank will finance Maruti vehicles through its designated branches up to 90 per cent of ‘On Road’ cost of vehicle at an interest of 11 per cent per annum (fixed for 3 years).
The offer is available across 1,072 Maruti retail and dealer outlets. The bank has also tied up with Swaraj Mazda Limited (SML), a maker of light and medium commercial vehicles, for providing finance to road transport operators for purchase of Swaraj Mazda vehicles through its designated branches, across the country.
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