Passenger car-maker, Honda Siel Cars, today said it has tied-up with Axis Bank to offer finance to dealers and customers for its vehicles at competitive rates.
"Honda Siel and Axis Bank will pool their resources together to make accessible organised finance at competitive rates to our dealers and customers across the country for the purchase of Honda cars," Honda Siel Cars, director (India), marketing, T Natsume, said in a press release.
Under the agreement, Axis Bank has approved a line of credit for financing the dealers of Honda Siel for inventory funding and retail financing of auto loans, the release said.
Axis Bank plans to leverage its 938 branches in 583 cities pan-India to scale up the vehicle financing and expects to grab a significant market share in the near term, the bank said.
Honda Siel Cars India has a dealership network across 66 cities in the country.
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