Automaker Maruti Suzuki India Ltd (MSIL) on Wednesday, April 12, said the company has signed a memorandum of understanding (MoU) with IDFC FIRST Bank Ltd to offer personalised car finance options.

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As part of this collaboration, the bank will offer personalised finance options across new cars, pre-owned cars, and commercial vehicles to customers interested in Maruti Suzuki vehicles.

With the latest partnership with IDFC FIRST Bank, Maruti Suzuki continues to provide a wide range of financing options for customers across the country. The MoU was signed in the presence of senior management from Maruti Suzuki and IDFC FIRST Bank.

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Speaking on the partnership, Shashank Srivastava, Senior Executive Officer, of Marketing and Sales at Maruti Suzuki, said, "It has been our goal to offer a comfortable and hassle-free financing experience for car buyers, and this collaboration enables us to take this further through an array of personalised loan benefits offered by the bank."

The partnership with IDFC FIRST Bank will further allow Maruti Suzuki to expand its range of financing options and provide customers with greater flexibility and choice. This collaboration is set to further enhance Maruti Suzuki's position as the leader in the Indian automobile industry.

Madhivanan Balakrishnan, COO of IDFC FIRST Bank, said the bank leverages analytics and digitisation to provide a seamless and easy financing experience to customers across its 700-plus branches across India.

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(Edited by : Shoma Bhattacharjee)