The two partner have signed a memorandum of understanding (MoU) under which facilities like loans up to 100 per cent of vehicle cost, zero processing fee, down payment of Rs 999 and extended loan tenure of 48 months, among others will be offered to the two-wheeler maker's customers, HMSI said in a statement.
Commenting on the development, HMSI Senior Vice President, Sales & Marketing Yadvinder Singh Guleria said with increased cost of ownership, post insurance premium hike and new brake regulations in two-wheelers, more and more customers are availing finance to own two-wheelers.
"We believe that consumer shift towards finance will accelerate even more in coming year and our partnership with IDFC FIRST Bank Ltd as our new additional retail finance partner is truly a win-win situation for our valued customers," he added.
"It also strengthens our position as one of the leading players in two-wheeler financing. The association with Honda will bring about a synergistic benefit for both the organizations...," he added.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)