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Maruti Suzuki India Limited (MSIL) has signed a Memorandum of Understanding (MoU) with Hero FinCorp Limited to enhance financing options for new and pre-owned car buyers. The partnership will integrate Maruti Suzuki’s dealership network with Hero FinCorp’s financial solutions, expanding loan accessibility for customers across different regions.
The MoU was signed in the presence of senior executives from both companies, including Partho Banerjee, Senior Executive Officer, Marketing & Sales, Kamal Mahtta, Vice President, Allied Business, and Vishal Sharma, General Manager, Maruti Suzuki Finance & Driving School. Representing Hero FinCorp, Managing Director and CEO Abhimanyu Munjal, along with other senior officials, were also present at the event.
The partnership is expected to provide customers with a range of financing options while streamlining the loan application process through digital and physical channels.
Hero FinCorp Limited is a financial services company in India, offering a range of lending solutions to individuals and businesses. It operates as the financing arm of the Hero Group and provides retail and corporate financing, including two-wheeler loans, personal loans, business loans, loan against property, and machinery loans. The company also caters to the automotive sector by offering financing solutions for new and pre-owned vehicles.
With a presence across urban and rural markets, Hero FinCorp has expanded its reach through physical branches and digital lending platforms. It serves customers in Tier 1, Tier 2, and Tier 3 cities, focusing on accessibility and ease of loan application through technology-driven processes. The company has developed proprietary digital tools to enhance loan processing and customer service.
Hero FinCorp collaborates with automotive manufacturers, dealerships, and financial institutions to offer financing options. It also provides working capital and structured finance solutions to small and medium enterprises (SMEs) and corporate clients.
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