Mercedes Benz, SBI pact for car finance

NEW DELHI:  Mercedes-Benz on Tuesday said that it has partnered with State Bank of India (SBI) for extending car finance to both its and the bank’s customers. The collaboration will give Mercedes-Benz India access to the “unparalleled market penetration of SBI’s HNI customer base”, while the bank’s customers will enjoy exclusive benefits on booking its luxury cars, the company said.

"The tie-up guarantees many financial benefits including an attractive rate of interest. Besides, all customers booking a Mercedes-Benz car online through SBI’s digital platform YONO will get an additional benefit of Rs 25,000 at the dealerships,” it said.

Under the tie-up, the SBI (high net-worth individuals) HNI customers in all its 17 circles across India will have access to Mercedes-Benz offers, enhancing the reach and increasing market penetration.

“... this is the first time we are collaborating with any bank. The collaboration...gives us an exciting opportunity to expand our customer base and reach out to the potential HNI customers of the bank with our products and services,” said Martin Schwenk, MD & CEO, M-B India.