Ashok Leyland, flagship of the Hinduja Group, today signed Memorandum of Understanding (MoU), with Suryoday Small Finance Bank Limited to enter into a strategic financing partnership for three years.
Under priority sector, benefits of this partnership will be to promote, market, and make accessible organised finance facility with superior features at competitive rates and concessions to the customers. The financial solution will be provided to customers across India, including semi-urban and rural areas.
Under this partnership, Suryoday Small Finance Bank Limited will be able to provide end to end financial solutions to the customers of Ashok Leyland. The Bank will work towards catering to the customers’ needs through auto loans with easy monthly repayment plans best suited for the customers. Moreover, the bank will leverage technology for enhancing customer experience.
Commenting on the partnership, Mr. Gopal Mahadevan, CFO, Ashok Leyland, said, “At Ashok Leyland, It is our continuous endeavor to enhance the experience of our prospective customers and add more value to our dealer partners in India. The partnership with Suryoday Small Finance Bank Limited will benefit our stakeholders and customers with financial products, which are specifically tailored for hassle-free experience.
Through our vast network of dealership, we will be able to provide best financial solutions to our wide range of commercial vehicle customers. Our vehicle finance business has a diversified customer base comprising of first time buyers, captive users, retail operators, strategic and large fleet owners, small truck owners and self-employed individuals, who are based across India, including semi-urban and rural locations.”
Continuing on the partnership, Mr. Baskar Babu, MD & CEO Suryoday Small Finance Bank Limited, said, “We are delighted to partner with one of the largest commercial vehicle manufacturers in India, Ashok Leyland. At Suryoday we truly believe that customer experience is going to be the key differentiator. Customer experience goes to the heart of how we think and manage our business and our relationship with the customer.
We also emphasise on building a long-term relationship with customers based on trust and fair practices, ensuring the customer only buys products and services they require, in a simple and transparent manner.”