Jeep India, Axis Bank join hands to launch financial services initiative for customers, dealers

Jeep India and Axis Bank have joined hands to come up with 'Jeep Financial Services' to curate financial solutions for Jeep customers as well as brand dealers.

Formation of the entity strategically supports the anticipated growth in Jeep India's business and a consequent rise in its customer base, the automaker said in a statement.

Jeep brand dealers will also benefit from the partnership as they will enjoy special interest rates and will contribute to a more seamless retail process, it added.

As part of the partnership, Axis Bank and Jeep India will get access to each other's growing customer database.

Jeep customers will be serviced from the bank's 4,586 branches spread across India and also via on-site counters at high footfall Jeep brand dealerships.

''Jeep Financial Services is an initiative that will make Jeep branded SUVs more accessible than ever to aspiring Indian customers. This strategic partnership will strengthen our retail strategy and optimize the efficiency of the purchase process,'' FCA India Automobiles MD Partha Datta said.

Jeep Financial Services complements the company's go-local strategy and is a result of many synergies with Axis Bank that will sharpen focus on customer centricity, he added.

''Our strategic partnership with a prestigious automobile brand like Jeep will enable us to reach out to a newer and wider set of customers in India. Both Axis Bank and Jeep India have a strong track record in our respective industries and this partnership's complete focus will be on keeping customers first,'' Axis Bank President & Head - Retail Lending Sumit Bali said.

The company's strong retail banking network and its presence in Jeep dealerships across India will make the Jeep retail experience seamless for customers, he added.

''Now, any customer who aspires to own a Jeep SUV can just walk into a Jeep dealer showroom or any Axis Bank branch to fund their dream,'' Bali noted.

The private sector bank will provide higher funding solutions with longer tenure for Jeep customers. Both Jeep India and Axis Bank would tap into each other's HNI customer base to grow the business.

Besides, Jeep dealers and customers will have the benefit of structured financing solutions at competitive rates for business priorities and purchases, the automaker said.

Jeep India has committed to invest USD 250 million to launch four new local products. Two out of the four products – the new Jeep Compass and the locally-assembled Jeep Wrangler have already been launched in the market.