Maruti Suzuki partners with Hero FinCorp to expand car loan offerings

Maruti Suzuki India Limited (MSIL) on Saturday announced the signing of a Memorandum of Understanding (MoU) with Hero FinCorp Limited to enhance financing options for both new and pre-owned car buyers.

The partnership aims to leverage Maruti Suzuki’s vast dealership network and Hero FinCorp’s customized financial solutions to make car ownership more accessible, the company said in a media release.

The agreement was formalized in the presence of senior officials from both companies, including Partho Banerjee, Senior Executive Officer, Marketing & Sales, Maruti Suzuki; Kamal Mahtta, Vice President, Allied Business; and Vishal Sharma, General Manager, Maruti Suzuki Finance & Driving School.


Representing Hero FinCorp were MD & CEO Abhimanyu Munjal and other senior executives.

Partho Banerjee said that with this partnership, Maruti Suzuki aims to enhance its financing ecosystem, catering to a diverse customer base across India.

“Collaborating with Hero FinCorp builds on our ability to offer innovative, transparent, and attractive financing solutions that address ever-evolving customer needs for car finance. With this tie-up, MSIL today has over 40 retail finance partners for our customers to choose from, giving them a wide array of finance options to suit their varied needs,” he said.

Highlighting Hero FinCorp’s commitment to financial inclusion, Abhimanyu Munjal said that Hero FinCorp is on a mission to fuel the country's aspirations.

"This partnership with Maruti Suzuki takes us a step further towards making car ownership easier, more accessible, and truly hassle-free for every Indian. As India trades up, our deep reach in Tier 2, Tier 3 cities, and beyond, combined with seamless digital journeys powered by proprietary tech capabilities, ensures that we continue Empowering Every Indian’s Dream of Upward Mobility,” he said.