Avail lowest interest rate @11.75% on reducing balance on the total repayment amount along with great scheme features and flexible tenure. With this first of its kind partnership of both the entities brings first nationalized bank based out of Andhra Pradesh partner to finance two-wheelers of HMSI and fuels Andhra bank’s two-wheeler loan portfolio at the national level.
The marquee highlights of this partnership include loan facility on amount of upto 85% of two wheeler’s value for maximum value upto 5 lakh, with a repayment tenure of upto 5 years at daily reducing interest; an interest rate of 11.75% and zero processing and documentation charges. Also with women increasingly opting for mobility and freedom, a rate of interest reduced by 0.75 bps i.e. 11% at daily reducing interest specially for women customers.
Talking on the partnership, Mr. Y S. Guleria, Senior Vice President, Sales & Marketing, said, “We are delighted to announce a special financing scheme in tie-up with Andhra Bank for our privileged customers who have chosen Honda as their preferred 2Wheeler brand. With number 1 position achieved in Andhra Pradesh and Telangana by Honda, this move reinforces our commitment and focus on growth in both the markets by further strengthening our outreach in semi-urban and rural markets. The strong network of Andhra bank deeply entrenched across markets will assure Honda’s outreach and connect with the consumer. Now customers can easily bring their dream Honda two-wheelers with limited money commitment.”
On the occasion, Mr K Ranganath- General Manager, Andhra Bank said “We are proud to unveil our finance retail schemes for two-wheelers through this tie up with world’s number one 2-wheeler brand Honda and Andhra Pradesh’s two-wheeler leader. Honda has been synonymous globally with high quality products that spread joy in the lives of millions of its customers. Through customized and convenient finance options, we look forward to partnering Honda in fulfilling the dreams and aspirations of millions in India. Further, we are delighted to announce special rate of interest for women customers, encouraging them to opt for easy in the city.”
Customers can avail the special finance options from Andhra Bank on Honda 2-wheelers from now onwards. This is the second national tie-up for Honda in this festive season, after associations with Shriram Finance announced earlier this month. All the tie-ups are a strategic expansion of Honda’s customer outreach initiatives being rolled out at pan-India level.
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