Honda Inks MoU With Andhra Bank For 2-Wheeler Financing Ahead Of This Festive Season

Honda Motorcycle and Scooter India private limited (HMSI) is one of the best selling and most reputable 2-wheeler manufacturing brand of the country. The company constantly comes out with all new vehicles and attractive finance schemes that tempts the customer to buy their product. And this festive season they have gone a step further by marking a MoU (Memorandum of Understanding) with a nationalised bank - Andhra Bank.

Focused to realise dreams, Honda continuously surprises the customers with various offerings. Specially introduced ahead of this festive season andhra bank is to offer easy and attractive retail finance options for Honda 2-Wheeler buyers. Avail lowest interest rate @11.75% on reducing balance on the total repayment amount along with great scheme features and flexible tenure. With this first of its kind partnership of both the entities, this brings the first nationalised bank based out of Andhra Pradesh partner to finance two-wheelers of HMSI and fuel Andhra bank’s two-wheeler loan portfolio at the national level. 

The key features of this facility includes loan facility on amount of upto 85% of two wheeler’s value for maximum value upto 1.50 lakh, with a repayment tenure of upto 5 years at daily reducing interest; an interest rate of 11.75% and zero processing and documentation charges. Also with women increasingly opting for mobility and freedom, a rate of interest reduced by 0.75 bps i.e. 11% at daily reducing interest specially for women customers.

Customers can avail the special finance options from Andhra Bank on Honda 2-wheelers from now onwards. This is the second national tie-up for Honda in this festive season, after associations with Shriram Finance announced earlier this month. All the tie-ups are a strategic expansion of Honda’s customer outreach initiatives being rolled out at pan-India level.