According to recent reports, Bajaj Auto, India’s second largest two wheeler makers have signed up with State Bank of India to offer finance to its dealers. The tie up will offer cash credit ranging from Rs. 25-lakh-Rs 5-crore to the dealers of Bajaj Auto. SBI has already captured a significant role in offering loans at reasonable interest rates.
The company said that the loan will be sanctioned and paid out to the dealers subjected to necessary approvals at viable interest rates. SBI India’s most preferred home loan providers tie up with Bajaj Auto has made them happy.
Bajaj Auto has recorded 35 percent last year, in its domestic sales. Mr. S. Sridhar President, Bajaj Auto said that they were happy to tie up with the SBI which has the largest network of more than 13,000 branches spread across the country. He added saying that the company needs to ensure enough working capital for dealers due to the launch of new model and variants.
Mr. Manas Kumar Nag, Chief General Manager (Small & Medium Enterprises) of SBI said they would partner the growth options of Bajaj Auto through electronic dealer finance platform and provide the best-in-class customer experience to their dealers.