Hero MotoCorp Ltd has tied up with Muthoot Capital Services Ltd (MCSL), a division of Muthoot Pappachan Group, to offer instant, need-based financial services for its two-wheeler customers.
The tie-up will enable Hero MotoCorp penetrate deep by offering its products in the semi-urban and rural markets using the services of Muthoot group’s retail outlets and dedicated manpower at every Hero MotoCorp dealer/authorised outlets of Kerala, Tamil Nadu, Andhra Pradesh, Karnataka and Goa.
Hero MotoCorp has a strong dealer network in these states where the financing options will be available initially. MCSL and Hero MotoCorp will work closely to bring in operational efficiency, optimise the turnaround time and enhance customer satisfaction. The financing option will be offered to customers purchasing two-wheelers at the authorised Hero MotoCorp retail outlets on EMI under innovative, flexi repayment options.
MCSL vice-president R. Balakrishnan said, “Two-wheeler segments is picking up quite well despite the difficult market conditions and we are looking at having a decisive stake in this growing auto finance segment in this region. Hero MotoCorp Ltd is a great brand and by joining hands, we are aiming at taking our services within arm’s reach of the customer, delivering value for money and making vehicle financing a hassle-free and pleasant experience.”
The flexi plan will offer customers flexibility to pay within the stipulated loan period according to his convenience of paying daily, weekly, fortnightly or monthly. The services will be positioned aggressively at par with prevailing market rates.
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