Honda Motorcycle & Scooter India (HMSI), the second largest two-wheeler Company in India today announced its new retail finance tie-up with Assam Gramin Vikash Bank, the largest Regional Rural Bank in North East at a special event in Guwahati, according to a statement issued by the Japanese two-wheeler major.
HMSI has already associated with Co-operative, Gramin and Non-Banking financial institutions in Punjab, Rajasthan, Uttar Pradesh & West Bengal for providing two-wheeler retail finance facility at state and PAN India level. This announcement marks an important step towards making Honda’s two-wheelers more easily accessible to its valued customers as Assam Gramin Vikash Bank is operational in all of Assam with it’s 388 branches which is sponsored by United bank of India.
With this partnership, customers across all towns/Village where the bank has its network can avail many attractive value-ads. These benefits include daily reducing interest rates, minimum processing fee and hassle free loan with nil documentation. Through this partnership, buyers can avail loan amount of upto 80 percent of Honda’s two-wheeler.
On the partnership, Shio Shankar Singh, Chairman, Assam Gramin Vikash Bank said: “We are really happy to partner with Honda Motorcycle & Scooter India Pvt. Ltd. With our wide network we believe customers across Assam will immensely benefit and would be able to avail Honda’s extensive and world class product portfolio. It is our continuous effort to make convenient, the availability of finance to the people and with Honda’s partnership we believe we would be able to help people in buying their choice of Honda two-wheeler”.
Speaking on this alliance, YS Guleria, Vice President, Sales and Marketing, HMSI said: “Honda is always working to offer its customers with best value products and services. Today we are privileged to partner with the largest Regional Rural Bank in North East, Assam Gramin Vikash Bank to make two-wheeler buying for its customers more accessible and convenient. We are sure that with the Bank’s wide network we will be able to reach out to more and more customers in Assam and provide them an opportunity to experience high quality Honda products”.
North East market
Backed by the overwhelming trust of customers, Honda has consolidated its position as the ‘Fastest Growing two-wheeler company in both North East and pan-India. While two-wheeler industry in North East has grown at moderate pace of 15 percent, Honda has grown by an overwhelming 29 percent in April-December’2014 period (YoY basis).