Private sector lender HDFC Bank has signed a Memorandum of Understanding (MoU) with JLR India for auto financing, which will lead the bank to be now JLR’s preferred vehicle financier.
This collaboration will come with a host of benefits for consumers such as special financing schemes, exclusive offers / events, and priority services / engagements. By leveraging the combined strengths of both brands, the aim is to provide customers with seamless financing options and a modern luxury car buying experience, the bank said in a release.
The services will be available across all JLR exclusive showrooms and dealerships.
The MoU, which encompasses offerings for the entire range of JLR models, was signed by Rajan Amba – Managing Director JLR India and Arvind Vohra – Group Head, Retail Assets HDFC Bank.
Speaking on the development, Vohra said, “We are excited about this partnership with an iconic and aspirational automotive brand like JLR. The Bank will leverage its robust execution capabilities to offer a seamless customer experience.”
Echoing similar sentiments, Amba said, “Our dealer partners are integral to our business, and we are pleased to be able to develop solutions to help them in ease of doing business.”
“Together, we aim to further grow the market and offer our portfolio to an increasing set of clients. To that effect, we are excited to partner with HDFC Bank for this financing program, which will further strengthen the access of our dealer partners to increased working capital. By integrating HDFC Bank's expertise and extensive reach, we aim to offer our clients a tailored range of financial choices that cater to their individual needs.”
Akhilesh Kumar Roy, Business Head, Auto Loans & Inventory Finance HDFC Bank, who was also present when the MoU was signed, said, “The coming together of the two organisations will elevate the car buying experience. Customers will now enjoy a host of tangible and intangible benefits.”
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