CHENNAI: Maruti Suzuki India Limited (MSIL), on Monday announced the signing of an MoU (Memorandum of Understanding) with ESAF Small Finance Bank for collaboration in offering retail financing solutions for new cars, used cars, and commercial vehicles.

Through this strategic alliance, the focus is on offering easy and flexible finance options tailored especially for first-time buyers. The partnership will leverage the combined network of Maruti Suzuki and ESAF Small Finance Bank across tier 2 and tier 3 cities, making vehicle ownership more accessible to a wider segment of customers.

The MoU was signed in the presence of Partho Banerjee, senior executive Officer, marketing & sales, and Vishal Sharma, VPt, Maruti Suzuki Finance & Driving School, representing Maruti Suzuki India; alongside K Paul Thomas, MD-CEO, and other senior officials from ESAF Small Finance Bank.

Banerjee said, “This strategic partnership with ESAF Small Finance Bank reinforces our commitment to make vehicle ownership more accessible, especially for first-time car buyers. Through this, we aim to further enhance financing options and flexible repayment solutions, ensuring that more Indian families can experience the joy of owning a Maruti Suzuki."

K Paul Thomas, MD-CEO, ESAF Small Finance Bank, said, “This collaboration will help extend affordable and convenient mobility solutions to a wider customer base, particularly in underpenetrated regions."