SBI signs MoU with Honda Siel for auto financing

Last Updated: Thursday, December 3, 2009 - 20:07

New Delhi: State Bank of India today said it
has signed a memorandum of understanding with auto maker
Honda Siel Cars India for providing retail financing to
customers.

Under the agreement, the state-run lender will be the
preferred financier for the entire range of vehicles marketed
by Honda Siel Cars India (HSCI), SBI said in a statement.

"The MoU aims at targeting high-end customers who will be
availing car loan from SBI above Rs 5 lakh. SBI has
come out with a special scheme called SBI Advantage Car Loan
Scheme for this niche segment," it said.

The scheme is for individuals who are income tax assesses
and whose income or gross taxable income is of Rs 2.5 lakh and
above, it said.

PTI



First Published: Thursday, December 3, 2009 - 20:07
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