Suzuki Motorcycle India, SMFG India Credit Co partner for vehicle finance

Suzuki Motorcycle India Pvt Ltd on Friday said it has partnered with SMFG India Credit Co Ltd (formerly Fullerton India Credit Co) to provide financing on purchase of its two-wheelers.

The two companies have entered into an MoU for the same, Suzuki Motorcycle India Pvt Ltd (SMIPL) said in a statement.

SMFG India Credit is registered as a Non-Banking Financial Company-Investment and Credit Company (NBFC-ICC) with the Reserve Bank of India, and a member of Sumitomo Mitsui Financial Group (SMFG), it added.

"Considering our continuous growth in the Indian market, it becomes imperative for us to associate with financiers who can facilitate ease of purchasing Suzuki two-wheelers. The idea is to offer flexible, yet easy retail finance offers, keeping in mind the needs of our customers," SMIPL Managing Director Kenichi UMEDA said.

"We are confident that our engagement with SMFG India Credit will be another step in enhancing our ability to cater to the needs of our growing customer base in India and thereby support our growth plans," he said.

SMFG India Credit Co Ltd Chief Business Officer Ajay Pareek said, "Being a diversified NBFC, we are well poised to provide customers with a wide range of tailor-made products beyond two-wheeler loans, helping them achieve their personal or business goals."

Through the partnership, SMIPL customers can avail of retail financing options round-the-clock, besides getting additional benefits such as vehicle loan sanction within minutes and hassle-free documentation, the statement said.